International Expansion of Mi Pay and HUAWEI Pay
2019-01-09 11:19 Wednesday
Xiaomi Inc. is entering India's digital payments through its payment app, Mi Pay. National Payments Corporation of India (NPCI) has announced the legality of Xiaomi's mobile payment service in India. After connecting debit cards, credit cards or internet banking, users are allowed to pay bills through the app, including phone bills, electricity bills, and water bills as well as do mobile and DTH recharges. Mi Pay will also allow payments by scanning QR codes.
The Chinese smartphone maker has started the beta testing of Mi Pay, which is open to all Xiaomi users. However, the company has not revealed the release date of a stable version. 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 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.
As many online payments service providers including Google Pay, WhatsApp and Paytm are trying to take a lead within India mobile payment market, it's still unclear if Mi Pay can make a difference here.
Huawei, just like other tech giants like Alibaba, Samsung, and Google, has its own version of mobile payment platform, which is called Huawei Pay.
HUAWEI Pay is expanding its reach to Russia. Huawei has partnered with the Russian Agricultural Bank to offer its Huawei Pay platform. Other local financial institutions are rolling out the additional payment method to its customers. So Russians that use the UnionPay card from Russian Agricultural Bank will be among the first outside China to experience the mobile-based instant payment system. Customers need nothing but a UnionPay Card, and a modern-day Huawei smartphone. For the Chinese smartphone and telecommunications giant, this is the first stop out of China.
Huawei calls it an "important milestone" that "lays a solid foundation for a broader global layout in the future". Huawei hopes that its mobile devices, which are being sold all over the world, will contribute to the easier and faster global deployment of the new service. Huawei Pay is expected to go live in Russia in the first quarter of 2019.