OnePlus is apparently working on bringing its own digital payment service to India. The company has recently trademarked OnePlus Pay, which will likely rival other online wallet services like Google Pay and PayTM in the region.

OnePlus files the trademark for OnePlus Pay in India.#OnePlus #OnePlusPay pic.twitter.com/nzU1U9ipAH

— Mukul Sharma (@stufflistings) April 5, 2021

The trademark registration was found by Mukul Sharma (@stufflistings) and he shared the news on Twitter. As per the tweet, the Chinese tech giant is planning on soon launching it is in house payment platform in the country, although, it is still unknown when exactly the service will be available. The company had first announced that it was working on a payment service back in 2019 in China. This service works with the pre loaded wallet app, and users would have to set the OnePlus Pay as the default NFC based app.

To use the NFC based system, users can double press the power button to quickly access the digital wallet, which can be linked to the users’ debit cards. In India, the company is likely aiming to partner with Indian banks or international payment gateways like Mastercard or Visa that are widely popular in the region. Similarly, it might also choose to bring support for RuPay credit and debit cards as well for its Indian customers.

OnePlus Pay would also have the company join the list of smartphone manufacturers that have announced their own mobile payment services. Furthermore, the company would also face competition from third party payment apps like Google Pay and PayTM that are based around the UPI system in India. Unfortunately, finer details are unknown regarding the digital wallet, so stay tuned for more updates.

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Quite a number of manufacturers have a digital wallet service. Some of the popular ones are Samsung Pay for Samsung devices and Apple Pay for Apple devices. There is also Google Pay which is available on several Android devices. Now, OnePlus is here with its own digital wallet service called OnePlus Pay. Not surprised at the name, right?

OnePlus Pay first surfaced in the news last year at the OnePlus 7T unveiling with a promise to launch in the first quarter of 2020. It was reported then that the service will be announced first in China before heading to India and the United States of America.

While OnePlus is yet to “officially” unveil the service, some OnePlus 7T users in China have discovered the service is now available on their device. OnePlus devices in China run Hydrogen OS (H2OS) and the version of the OS on the OnePlus 7T with the feature is version 10.0.7.HD65.

At the moment, just a few banks are supported but more should be added as time goes on. Some of the supported banks allow you to add a credit card while others also allow for a debit card.

With OnePlus Pay, you can add your cards to your device and use it to make payments online, within apps, and at outlets that accept contactless payment.

OnePlus should release an official statement soon which should contain details about the service and when other models should expect it. In the meantime, if you own a OnePlus 7T running Hydrogen OS, you may want to check out the service.

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OnePlus demonstrated the importance of the Indian market with the launch of the OnePlus 7T and the al new OnePlus TV Q1 and Q1 Pro. During the event, the Chinese company also went official with the newest addition to its custom OxygenOS and it is called OnePlus Pay. Samsung, Google, Xiaomi, Apple are presently among the OEMs in the smartphone sector which have got their own payment platform. Xiaomi Pay is yet to roll out in other regions aside China. Google continues to expand its own Google Pay platform, stretching from the US to Europe. Samsung Pay perhaps has the widest coverage with the payment platform already available in several countries in partnership with local financial institutions. OnePlus is looking to leverage on the global spread of its smartphone userbase with this new mobile payment platform.

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Details of the OnePus Pay were not revealed. The company only released a teaser announcing the platform should be expected sometime next year. We expect the app to support NFC and that won’t pose any problem to OnePlus phone users, except you own the OnePlus 2 or One. OnePlus models right from the OnePlus 3, all came with NFC onboard. The payment platform may also bring other non-NFC payment options.

In another development, OnePlus also shared Counterpoint Research Q2 2019 report on the premium smartphone segment in India. The data shows OnePlus controls 43% of the premium segment, ahead of Samsung. The market share is a significant leap from last year’s Q2 market share of 34% which catapulted OnePlus to the top of the segment for the first time ahead of Samsung. With this latest report, OnePlus continues to dominate the segment in India and this could be the reason why the OnePlus 7T was launched in the world’s thrid-largest market first. Also, recall that OnePlus currently ranks among the top 5 OEMs in the premium segment globally.

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