Mi Pay, which was limited to the Xiaomi store, is now available on Google Playstore and can use UPI(Unified Payments Interface) for payments.
Mi Pay Available
Mi Pay is designed to be an integrated payment solution that will have UPI payments, recharges, bill payments, and more. The only requirement is to have a Mi Account for sign in and the app is designed by Xiaomi in collaboration with ICICI Bank.
— Mi Money – #MiPay x #MiCredit by #Xiaomi (@MoneyWithMi) October 25, 2019
Xiaomi is likely taking on Google Pay and Paytm with the full roll-out of its Mi Pay app. The company initially launched the app almost a year back, exclusive to China on December 2018. Xiaomi even introduced the second major revision of the app, Mi Pay 2.0, earlier this year in March. The payment app used an NFC chip for payments in China but will use Bar code scans for India.
Money transfer is primary; Mi Pay will also let you pay bills, make DTH recharge, pay water and electricity bills, and so on. Mi Pay also allows the scanning of QR codes, including Bharat QR codes, like Paytm. Xiaomi has also registered service providers like Assam Power, BEST Mumbai, BSES Rajdhani, and the Yamuna, to offer more to MIUI users.
The app works in the same way as the other UPI applications like Google pay, PhonePE, Paytm, and is available in Playstore.