The Smartphone maker Xiaomi has launched its new mobile payment solution in India which was introduced back in December last year. Xiaomi has laid its foundation in India with its Plethora of Smartphones, that are coming with aggressive pricing and recently it has started to bring many other products to the Indian market and now this payment solution app for India has been launched.
This new Mi-Pay is supported by ICICI Bank and PayU that comes with a basic UI which requires Phone, Contacts and SMS permission to run on your device. The details given in the app will be stored in local servers and the users of it can start sending money to UPI address and Back accounts directly without much fuss. Via Mi-Pay, the users will also be able to make payments for many utilities like the Water bill, Electricity bill, Phone Bills, DTH Recharge, Phone Recharge and more.
The data generated by the users will be encrypted and will be kept within India based cloud infrastructure to make sure there is no data breach. With the Mi-Pay, the users can link or unlink their bank accounts to Mi Pay to facilitate transactions using the UPI PIN and the virtual payment address (VPA). They will be able to manage all their bank accounts and transfer mainly to UPI users and send a request and collect money from other users.
Like other applications, this Mi Pay also has the option to check the balance in the account and also modify or reset their UPI PIN to enhance their security levels. The users can also use the Mi Pay app to pay by scanning QR codes that include Bharat QR codes. Users need to generate personal static or dynamic QR codes to receive payments form the other UPI users.
As a part of the launch offer, Xiaomi is also offering over 100 Redmi Note 7 phones and 50 Mi LED TV 4A Pro 32-inch TV’s which can be won making payments via Mi Pay app. The app should be available for all the MIUI users in the next couple of weeks. Are you planning to use this new payment method? Comment in the section below and stay tuned to PhoneRadar for more news and updates.