The very popular smartphone maker Xiaomi has entered into the mobile payment industry by announcing its own payments service Mi Pay, in a partnership with China Union Pay. The company will conduct a launch event along with China Union Pay on 1st September to introduce and reveal the Mi Pay.
According to the company the Mi Pay is the world’s first mobile payment system which supports bank card and transportation card at the same time. Just like other mobile payment systems (Samsung Pay, Android Pay and Apple Pay), users can assign their credit and debit cards to Mi Pay to make contactless payments.
A number of banks support Mi Pay at launch. Selected beta testers managed to pay their fare by using Mi Pay in cities such as Shanghai, Shenzhen. With Mi pay, you don’t have to bring extra public transportation card anymore!
China Union Pay said “Mobile payments are becoming more popular in China, Xiaomi hopes that with strong brand reputation and monthly active MIUI users as their two main advantages will boost the growth of mobile payment in China and eventually providing convenience for everyone.”
We should know all the details about the Mi Pay and its supported banks on the launch day.