Xiaomi has entered the financial markets today with it is cashless and contactless payment service Mi-Pay. With just a touch of the screen, you can now pay directly like only apple and android users could do till now.
Mi pay is launched in partnership with union pay, one of the world's largest player in the market and like all other Xiaomi products and services it too will be launched in China first before moving onto other nations.
As of now, the debit and credit services work with 20 banks of China. This list is to widen with time. Another feature of this service is to bind your cards to the app so that you won't need the physical card to make any payments.
This service will also support all the transport card in all the major cities of China. With this Xiaomi becomes the first mobile manufacturer company to do so.Over four million retail points of sale will go live in China in the coming weeks.
Xaiomi has also entered various other businesses like washing machines, vacuum cleaners, and similar electronic equipment. Lately, they have launched the Mi Robot Vacuum which can clean up your houses on its own. With its eyes fixed on India as one of the major consumer bases, Xiaomi is expanding its product range to cater most of the household and technological needs of its customers.