Payments Service Archives - Gizmochina

Huawei P60 series supports no-power digital RMB payment

Soumyakanti — Sat, 25 Mar 2023 10:29:45 +0000

Huawei has made an exciting announcement about its new flagship smartphone series, the Huawei P60/Pro/Art, which supports digital RMB payments even when the phone is powered off. This is achieved through the phone’s security module, NFC communication capabilities, power status sensing, and smart interaction technologies. This innovative feature means that consumers can make payments simply by tapping their phones together, without the need for electricity.

To ensure the security of digital RMB no-power payments, users can control transaction risks by setting the number of no-power payments and enabling small-amount password-free payments. If the number of no-power payments exceeds the user’s set limit, payment cannot be made, and if the amount paid exceeds the password-free limit, the user needs to verify the payment password on the receiving device during the transaction.

Users who are concerned about the risk of funds, they can choose not to enable small-amount password-free payments. Instead, they need to verify their password on the merchant’s POS machine before making a payment. If the user loses their phone, they can log in to the digital RMB app on another phone and turn off the no-network and no-power payment function to ensure the security of their funds.

Currently, the Huawei P60, Huawei P60 Pro, and Huawei P60 Art support digital RMB no-power payment, with other models to be gradually launched. To set up digital RMB no-power payment, users need to activate the Huawei wallet hard wallet feature in the digital RMB app and follow the Payment Settings to enable the No-Network and No-Power Payment Switch.

This innovative technology is sure to enhance the payment experience for Huawei phone users, and as the development of digital RMB progresses, we can expect to see more scenarios supporting no-power payments. With the security measures in place, users can enjoy the convenience of no-power payments without having to worry about the safety of their funds.

Follow these steps to set up digital RMB no-power payment: Digital RMB App > Activate Huawei Wallet > Payment Settings > Enable No-Network and No-Power Payment Switch.

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Reliance partners with Google & Facebook for a digital payment network: Report

Sean — Mon, 01 Mar 2021 11:36:51 +0000

Reliance Industries has apparently partnered with major tech giants Facebook and Google, along with a fintech based firm Infibeam to setup a national digital payment network, as per sources close to the matter.

Jio, Reliance’s telecom unit

According to an EconomicTimes report (Via Reuters), three unnamed sourced have revealed that the Indian conglomerate and Infibeam were in advanced stages of submitting their proposal for a digital payment service to the nation’s central bank, Reserve Bank of India (RBI). For those unaware, RBI invited various companies to make a new umbrella entities (NUE) to create payment networks that would rival the system operated by the National Payments Council of India (NPCI).

Unfortunately, a spokesperson for Infibeam has declined to comment on the report at the moment, adding that the company was bound by confidentiality of process. Meanwhile, Reliance, Google, and even Facebook have yet to respond on the matter. Furthermore, Facebook and Google are already partnered with the Indian giant and also own stakes in Jio Platforms, Reliance’s unit that runs the company’s music, movie and telecom services.

Notably, RBI extended the deadline for all partners to submit NUE applications until 31st March 2021 from 26th February 2021 earlier this week. Additionally, the central bank of the country is expected to take another six months to study all the proposals that are being submitted, and is not expected to give more than two new “for-profit” NUE licenses. Similar to the aforementioned brands, RBI has also declined to comment on the matter as well.

Xiaomi launches its mobile payments solution Mi Pay in India

Jeet — Sat, 22 Dec 2018 06:38:49 +0000

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.

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)

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