Currently, there are already many e-payment solutions available in the market such as BHIM, Google Pay, PhonePe, Paytm and many more. And it will be interesting to see how this payment application from Xiaomi performs when it becomes available publicly. The Mi-Pay application has got approval by National Payments Corporation of India (NPCI) to be used by a “large group” due to which the beta registrations have already begun. Also, Xiaomi assures users that all data created for use with Mi Pay is stored encrypted within an Indian based cloud infrastructure.
Mi Pay’s will be integrated seamlessly into MiUi environment like contacts, SMS, scanner applications etc.
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