Recently, Xiaomi had filed for a new trademark application for a “Xiaomi Pay.” Now, this trademark’s status has been officially changed to registered. In other words, the company was successful in filing for the finance based platform.

The trademark in question was initially applied back in April 2021. Furthermore, the Chinese tech giant had recently also filed for trademarks under the “Mi Pay” name as well. These had an international classification and were under the financial property management category. Although, since the company had recently dropped its “Mi” branding officially, it would make sense that it might even rename its Mi Pay platform to Xiaomi Pay.

Previously, the company had also announced that an NFC based Mi Pay straps for its wearable devices for contactless payments. For those unaware, the Mi Pay is a financial property management that seeks to offer users a simplified payment system that can be accessed via the brand’s products. This includes gadgets with and without the support for NFC. With the new trademark, the brand might change the name from Mi Pay to Xiaomi Pay, however, that is still speculation. So take this report with a pinch of salt for now and stay tuned for more updates.

RELATED:

• Samsung and Motorola battle it out to lead LATAM smartphone market, Xiaomi sees growth
• Here’s the confirmed list of brands launching Snapdragon 8 Gen 1 phones
• Xiaomi spends 2 Billion Yuan to establish new corporate management firm in China
• Xiaomi to launch 120W phone in India soon, could be the 11T Pro or 11i HyperCharge
• Moto Edge X30 is launching on December 9 as world’s first phone with Snapdragon 8 Gen 1

The post Xiaomi has successfully registered ‘Xiaomi Pay’ trademark appeared first on Gizmochina.

Earlier today (28th September 2021), Xiaomi unveiled the NFC Mi Pay Straps that will be launching soon. The company revealed the new wearable band during the “Future Of Contactless Payments” event at the Global Fintech Festival.

As of right now, finer details regarding this product is currently unknown. Although, it is clear that it is a new contactless payment based product. The tech uses NFC and the related components are housed in the straps itself. While the Chinese tech giant has yet to reveal the launch date for this product, it has announced that it is working in collaboration with various finance based firms in India, including RuPay, RBL, and Zeta.

Today we announced our entry into the FUTURE OF CONTACTLESS PAYMENTS at the Global Fintech Festival.

Thrilled to announce that we will be launching the Xiaomi NFC Mi Pay straps soon.

Working with @RuPay_npci, RBL & Zeta to make this happen.

Stay tuned. pic.twitter.com/5yD2eywhPO

— Raghu Reddy (@RaghuReddy505) September 28, 2021

In other words, the NFC Mi Pay Straps is confirmed to arrive in India and would likely be a part of the Mi Credit or Mi Pay systems from Xiaomi. The news was shared by the brand’s Chief Business Officer, Raghu Reddy, on Twitter, with the tweet also teasing the upcoming straps’ design through an image poster. Unfortunately, we will have to wait for additional news from the company to know more about this product. So stay tuned, as we will be providing updates regarding this matter.

RELATED:

• Xiaomi Mi Notebook Pro X 14 goes on sale in China for 7,499 yuan ($1,162)
• Xiaomi Mi 12 to feature higher screen to body ratio & new rear camera setup: Tipster
• Xiaomi CIVI launched with 32MP selfie camera, 120Hz AMOLED screen, Snapdragon 778G
• Xiaomi Watch Color 2 launched with third party app support, 12-day battery life, and more
• Xiaomi unveils the MIJIA Treadmill with support for smartwatch, MIJIA app controls

The post Xiaomi to soon launch NFC Mi Pay Straps for contactless payments appeared first on Gizmochina.

Apart from making smartphones, Xiaomi is also known for its services as well as ecosystem products and Mi Pay is one of them. This service is available in a number of regions where the company has its presence. Now, users in India can trade gold on Mi Pay app with the latest update.

Since its introduction in the country, the company has added new features such as options to book trains/flights, buy life insurance, and even lets users generate their credit report. But it was missing the ‘Gold Trading’ feature, which is available on competitors like Paytm, Google Pay, and PhonePe. But not anymore, as Mi Pay also gets this option in the new update.

Xiaomi has partnered with gold investment startup SafeGold to bring ‘Gold Trading’ to Mi Pay. After updating the app to the latest version from Play Store or GetApps (Xiaomi’s official app store), users can purchase and sell gold from a dedicated option. 

The service lets users store their 24-karat physical gold with vaulting firm Brink’s India and even delivers them if required. Additionally, users can also track their existing gold balance and exchange them for jewellery from partner jewellers.

The Mi Pay payment service by Xiaomi landed as a beta in December of 2018 in India. Unlike the original with NFC, the Indian version uses UPI(Unified Payment Interface), debit/credit cards, and internet banking for transactions. The service went live for MIUI users in March 2019, followed by all users in October 2019 via Google Play Store.

UP NEXT: Tencent’s WeChat Pay reportedly hitting India soon on the heels of Xiaomi’s Mi Pay debut

(Via)

The post Mi Pay adds Gold Trading option in India appeared first on Gizmochina.

Xiaomi’s Mi Wallet has a new feature that allows phones without NFC to use Mi Pay. At the moment, the feature is only available for the Redmi Note 7, Redmi Note 5, and Redmi 6. The compatible devices only have to install the beta version of the app.

An infographic shared by Xiaomi shows the steps users have to take to set up the new payment option on their phone.

After setting up, all a user is required to do to make a payment is double-tap the power button to launch Mi Pay and verify with their fingerprint. The app then generates a QR code for payment.

More phones should get it once the feature is out of beta testing.

UP NEXT: Xiaomi partners Firework to bring access to short videos on Mi phones

(Via)

The post Mi Pay now works with devices without NFC appeared first on Gizmochina.

Chinese internet giant Tencent is known for its range of popular games such as Playerunknown’s Battlegrounds (PUBG) game. The mobile game has become a popular one in India such that it was even banned recently. One lucrative aspect of online games is in-app purchases. In order to leverage the popularity of its mobile games, Tencent is reportedly planning to enter the Indian market soon with its WeChat Pay payment platform. 

According to tech blog Entrackr, Tencent execs met with India’s National Payment Corporation of India (NPCI) a couple of weeks back to discuss obtaining a license for the payment service. The Chinese tech giant plans to launch the service as early as May or June this year.

Read Also: Xiaomi announces the full rollout of Mi Pay payment service in India

WeChat Pay is based on the Unified Payments Interface (UPI) which has a lot of participants in India. WeChat Pay will have to contend with outfits such as GooglePay, PayTm, BHIM, PhonePe and Mi Pay. With the monthly UPI transaction volumes consistently surpassing  Rs. 1 trillion ($14.49 billion) in December, January, and February according to NCPI’s website, Tencent may be heading for a lucrative market. Also, the popularity of its range of gaming apps may provide it with the avenue to break into the market.

(source)

The post Tencent’s WeChat Pay reportedly hitting India soon on the heels of Xiaomi’s Mi Pay debut appeared first on Gizmochina.

Xiaomi took the wraps off its first Android Go smartphone dubbed Redmi Go on Tuesday in India. The Redmi Go wasn’t the only product unveiled as the Chinese tech giant also officially announced the rollout of its popular payment platform Mi Pay in India. The Mi Pay was first announced in China in 2016 and it is tailored in the same pattern as Samsung’s own payment platform – Samsung Pay, as well as Google Pay, Tencent Pay, AliPay etc.

Mi Pay was first announced for India in December last year and beta testing programme has been ongoing since then. Apparently, the feature is now fully ready to be opened for use by Mi phone users in India. Unfortunately, the Indian version of Mi Pay doesn’t use Near Field Communication (NFC) to process payments but only supports payments through leading credit and debit cards, internet banking. The platform is built on the Unified Payment Interface (UPI) and is in collaboration with National Payments Corporation of India (NPCI) and ICICI Bank and supports over 120 banks.

According to Xiaomi, the feature is very much integrated with MIUI and affords users the opportunity to easily pay for stuff from native Xiaomi apps like SMS, contacts and scanner. It also offers rapid peer-to-peer transfers to other Mi Pay users or bank accounts. Xiaomi has devoted more attention to frequently used digital payment scenarios like paying for amenities like gas, water, and electricity as well as airtime top up or paying for cable TV.  The payment platform already enjoys the support of popular broadband providers like Nextra Broadband, Asianet and Hathway. Xiaomi also disclosed that Mi Pay support will soon be available on its website soon.

Read Also: Xiaomi’s foldable smartphone may cost half the Samsung Galaxy Fold; Launch expected in Q2 2019

The new Mi Pay payment platform will likely gain some traction in no distant time considering the popularity of Xiaomi devices. The Chinese tech giant didn’t fail to clarify that Mi Pay data is stored only on Indian servers and that it has collaborated with EY and Lucideus to keep user data safe.

(source)

The post Xiaomi announces the full rollout of Mi Pay payment service in India appeared first on Gizmochina.

Xiaomi, the China-based smartphone manufacturer, which is currently dominating the Indian smartphone market, has launched its mobile payment solution in the country — Mi Pay. This makes India the first country outside the company’s home market to get the Mi Pay service.

While the Chinese version of Mi Pay uses Near Field Communication (NFC) to process payments, this isn’t the case in the Indian version. Mi Pay in India supports payments through leading credit and debit cards, internet banking, and Unified Payment Interface (UPI) which can supports QR code-based payments.

Xiaomi’s mobile payment service in India has been cleared by the National Payments Corporation of India (NPCI) for large group usage. The service allows users to pay bills, including phone bills, electricity bills, and water bills as well as do mobile and DTH recharges.

However, the service is currently in Beta stage and will be available to beta users in “soon.” The company has not revealed when the stable version will release. Those who are interested in using Mi Pay during beta stage can sign up for the same from here. As per the company, the advantage of Xiaomi with Mi Pay in India is the deep integration of the service with MIUI, company’s own mobile operating system based on Android.

It will be interesting to see how Xiaomi’s payment service fares in the Indian market as there are many online payments service providers trying to get a lead. Two of the biggest services include Google Pay and Paytm. Popular messaging app WhatsApp is also testing its own payment service in India.

Read More: Xiaomi Play retail box leak reveals that the phone will come with free 10GB internet data; launching on 24th December

However, it seems that finding an audience for Mi Pay will be comparatively easy for Xiaomi given that it currently dominates the Indian smartphone market and has millions of users.

(Source)

The post Xiaomi launches its mobile payments solution Mi Pay in India appeared first on Gizmochina.

Xiaomi had introduced Mi Pay in China in 2016. India will be receiving the toned version of the payment solution. In the home country, the Mi Pay supports NFC-based contactless payments. However, since Mi Pay for India is based on UPI, any Mi phone will support the service regardless of the fact it features NFC or not.

Samsung offers two kinds of payment solutions in India. The Samsung Pay service is aimed towards its NFC enabled high-end phones for contactless payments. For non-NFC low-end phones, the South Korean company provides a service named Samsung Pay Mini. Since Xiaomi does not have many high-end phones with NFC support in India, it will be offering only UPI-based Mi Pay in the country.

Read More: Here’s Where You Can Buy Xiaomi Pocophone F1 Smartphone At Best Price

In May, Xiaomi had introduced a money lending service called Mi Credit service in India. By partnering with loan provider named KreditBee, the Mi Credit service provides MIUI users with loans between Rs. 1,000 and Rs. 1 lakh in less than 10 minutes. The Mi Pay service is also expected to be available on devices running on MIUI. To use the service, MIUI users only need to fill a simple KYC form.

It is too early to speculate on the arrival of Xiaomi Mi Pay in India as it all depends on RBI approval.

(source)

The post Xiaomi Mi Pay is coming soon to India appeared first on Gizmochina.

Xiaomi will launch a new phone come September 27 and it is no secret that it’s the Xiaomi Mi 5S. Some of the details already leaked include a 3D touch display, an under-glass ultrasonic fingerprint scanner, Snapdragon 821, and 6GB of RAM. New details emerging today mentions that the Mi 5S will also get a NFC chip and support for bus card and bank card payments.

Xiaomi announced its own form of mobile payment last month called MI Pay. It will allow users store card details on their phone and allow them make payments at supported terminals. The payment platform already supports seven banks with an additional six to be added later this month. However, the supported banks are Chinese banks.

READ MORE: OxygenOS 3.5.2 Community Build Rolls Out for OnePlus 3

The Mi 5s has also been reported to come in multiple storage variants. Buyers will be able to choose from 64GB, 128GB, or 256GB storage options. It will also feature Qualcomm’s Quick Charge 3.0.

The post Xiaomi Mi 5S Will Have NFC and Support Mi Pay appeared first on Gizmochina.

Xiaomi has official revealed the features of the MI Pay payment platform which they are working on in partnership with UnionPay China. The MI Pay will be officially launched on September 1 and ahead of that launch ceremony, MI Pay’s key features have been announced.

Xiaomi in announcing the features, stressed that the MI Pay goes beyond the functions of Apple Pay in that it is the world’s first payment platform to support debit or credit cards, bus card and mobile phones.

In the first instance, the MI Pay is said to support more than 10 bank’s credit and debit cards as well as Xiaomi Bus card. The Bus card service is already being tested in some some Chinese cities and provincial areas. Both the bank card and bus card services will be officially available after the September 1 press conference.

Read More: Xiaomi’s CEO Announces NFC Mobile Payment MI Pay

Xiaomi’s MI Pay, just like the Apple Pay uses the same NFC technology and both platforms sports similar looking interface and the process of add the debit or credit card to the MI Pay is very simple, by just opening the Xiaomi Mi Wallet application and clicking on your bank, if it is among the supported banks and the option of linking your card comes up. Thereafter, you’ll then need to add your card details like the card number, expiration date, your phone number, and the card type. A verification code is then sent to the registered phone number.

Xiaomi’s MI Pay is presently supported by China Construction Bank, Bank of Communications, China Merchants Bank, Huaxia Bank, Minsheng Bank, Ping An Bank, and Industrial Bank. Xiaomi has also hinted that more banks like Bank of China, Industrial and Commercial Bank, China Everbright Bank, Beijing Bank, and Guangdong Development Bank will be added in September.

The post Xiaomi Says MI Pay will Support Credit & Debit Cards, NFC & Bus card appeared first on Gizmochina.

Xiaomi’s CEO, Lei Jun, announced the company’s NFC based mobile payment at an event last night. The mobile payment service called MI Pay joins other NFC payments such as Google’s own Android Pay, Samsung Pay, and Apple Pay.

NFC payments allows you to store card details (credit, debit, gift, loyalty, and membership cards) on your phone which you can use to pay for items or get access to places without having the physical card with you. MI pay works the same way. All you have to do is to place your NFC enabled phone (after launching the payment app) against the card reader and you’re ready to go.

Xiaomi already has a NFC-enabled phone, the Xiaomi Mi 5. So owners of this phone should soon get the service rolled out to them. The company has announced a number of banks that currently support MI Pay: China Construction Bank, Bank of Communications, China Merchants Bank, Huaxia Bank, Minsheng Bank, Ping An Bank, and Industrial Bank. They’ve also announced that more banks (Bank of China, Industrial and Commercial Bank, China Everbright Bank, Beijing Bank, and Guangdong Development Bank) will be added in September.

READ MORE: ANTUTU’s Top 10 Phones for July 2016

Following this announcement, Xiaomi’s upcoming flagship devices such as the Mi Note 2 should come with NFC so as to get more people to use MI Pay.

The post Xiaomi’s CEO Announces NFC Mobile Payment MI Pay appeared first on Gizmochina.