Xiaomi Mi Pay: Xiaomi Partner with China Union Pay to Launch their New Mobile Payment App.
Looking back 6 years ago, Xiaomi was just a mono product company with MIUI firmware or custom android rom as their only product. With huge success of MIUI, Xiaomi became a smartphone manufacturer in 2011. In 2016, Xiaomi has many product and Gadgets to boost of including the new Mi Notebook Air, Mi VR headset, Mi Band, Mi Phones, their new mobile wallet system etc. Xiaomi Mi Pay is the new mobile payment system in China and Xiaomi’s newest product as at the time of writing this article.
You can also check our previous article on the latest payment solution in Nigeria and Africa as a whole with JumiaPay and KongaPay.
Xiaomi Mi Pay was officially launched on September 1st 2016 at a event in Partnership with China Union Pay, a state run nation wide mobile payment system. A number of banks in China supports MiPay at launch. Just like other mobile payment systems, users can assign credit and debit cards to Mi Pay to make contactless payments. Selected beta testers managed to pay their fare by using Xiaomi Mi Pay in cities such as Shanghai, Shenzhen, Guangdong, Wuhan, Suzhou and Beijing city. With Mipay, you don’t have to bring extra public transportation card anymore.
According to Xiaomi, We have started this project in 2013 and conducted beta and public test for Mi 5 in August 2016. There’re 10 million POS support Mi Pay in China. You can use them in coffee shops, restaurants, Mi Home and convenience stores.
According to Lei Jun, CEO and founder of the company, We believe that Mi Pay will be a key driving force in promoting the development of China’s mobile payments industry, and deliver much more convenience to our users.
The new mobile payment solution works with many of the major credit and debit cards from the top banks in China including China Merchants Bank, China Construction Bank, Bank of Communications, Industrial and Commercial Bank of China, and Bank of China.
Your smartphone must be NFC (Near Field Communication) enabled to use Xiaomi Mi Pay, a technology that enables it communicate the necessary information with either a tap against the reader or by waving the device in front of it. The new mobile wallet from Xiaomi uses multiple authentication mechanisms to verify transactions.
If you Update your Mi 5 to MIUI 8, you can enjoy rich features and convenient brought to you by Mi Pay. Shopping without cash and pay your bill with Mi 5. Even though Mi5 is the only Xiaomi phone that has successfully used Xiaomi Mi Pay, they promised Redmi Note 4 will also be compatible during its official launch in late August 2016.
Mi Pay has successfully joined the giants like Apple Pay, Samsung Pay and WeChat Pay from Tencent in mobile payment system.
That’s all on Xiaomi Mi Pay. Kindly make use of the social sharing buttons below.