Apple shot the fist bullet and many others are following. After the introduction of Apple Pay back in 2014 till now, several manufacturers, such as Samsung with Samsung Pay, have introduced their own transaction system using their devices.
Today, it was Xiaomi’s turn to introduce it’s own solution, the Xiaomi Pay. In association with China UnionPay, the third largest payment network behind Visa and Mastercard, Xiaomi will bring mobile payments using NFC to its devices witch lead us to believe that the upcoming Xiaomi Max will feature NFC and fingerprint sensor.
The cooperation between the two companies isn’t new. Since December 2015, China UnionPay has launched Cloud Flash Pay service, that enables a smartphone user to pay using NFC and the mobile app of his bank by just putting it close to the POS. It seems that this time, the cooperation will be tighter.
Lei Jun, the Chairman of Xiaomi said in Weibo that the Xiaomi Pay experience is very smooth and that the company is currently working with banks to implement China UnionPay to MIUI. So it seems we will be meeting with Xiaomi Pay soon.