Mi Pay the UPI based Payments App was first launched in China back in 2016. Now Xiaomi has finally announced the Mi Pay payments app in India. The launching happens at the Redmi Go launch event on Tuesday. So the competition among all UPI payments app in the country is expanding. In India, this mobile payment service by Xiaomi is supported by ICICI Bank and PayU. Mi Pay has been certified by National Payments Council of India (NPCI) and is a safe way to make digital payments. Also, it will only work with Xiaomi phones that run on MIUI for now.
Features of Mi-Pay UPI Payment App
With Mi Pay, users will be able to make payments as similar to Paytm and other UPI payments apps. Users will be able to make payments to other Mi Pay users. The company says that this app will be integrated within the Contacts, SMS, and App Vault in MIUI. You can link your bank accounts to Mi Pay to do transactions using the UPI and virtual payment address. It will allow you to pay bills for electricity, gas, telephone and even recharge their prepaid phone numbers.
You can also transfer money to other UPI users and also request as well as get money from other UPI users. Also, Users can also make payments via QR codes. Now comes the best thing about this app which is related to our privacy. Xiaomi says that the data will be stored on Indian servers and not on servers in China. So that’s why it is very important in building the trust of users. The Mi Pay UPI-based payments app will also be available as a payments option on Mi.com as well as the Mi Store app.
Offers with the Mi Pay App
Xiaomi is offering some great deals for Mi Pay users. Those who use Mi Pay after the launch will get a chance to win 100 units of Redmi Note 7 and 50 Mi LED TVs.
How to Download?
App will be available to download on the Mi Store app for Xiaomi Users. But the framework of the app is on the working stage for next couple of weeks so that users will not need to open the Mi Pay app to make payments. So far, there is no revelation whether Mi Pay will be available for other Android or iOS phones.
The Mi Pay will have to face competition from popular UPI payments apps in India such as Paytm, PhonePe, etc. Also, WhatsApp’s in-built payment service is also based on UPI is on testing stage.