The Indian Government and RBI (Reserve Bank of India) has already been introduced the easiest and secure process for online money transaction process called UPI (Universal Payments Interface) solution. It’s based on Aadhar number, PAN number, ed mobile number, and a bank number details to and set the bank a/c number for transaction process via mobile number. Some other popular online transaction solutions such as Mi Pay (UPI based) service in India.
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Xiaomi Mi Pay – Set To Launch in India
The Chinese tech giant is set to launch the Mi Pay service in India and now just waiting for the approval from RBI commercially. Google Play Store and Mi Apps officially. The new devices will be launched with Mi Pay as preloaded apps.
Earlier this year, Xiaomi has introduced a money lending service called Mi Credit in India. This service offers money loan from Rs.1,000 to Rs.1,00,000 within 10 minutes to MIUI s partnered with ‘KreditBee’ company. As we mentioned above, the Xiaomi Mi Pay is also expected to be available on all Xiaomi devices.
Xiaomi Mi Pay Service – Expected Process for Payment
Currently, there is no information about the of NFC for the Indian version. Though, most of the mid-range devices and all entry-level devices don’t come with NFC feature. Whereas, Samsung is working on two kinds of payment services in India such as Samsung Pay Mini features bank a/c and UPI Id system for entry-level and mid-range devices.
