The Indian version of Xiaomi Mi Pay software was recently approved for registration. According to the Enterprise Check App, Mi Pay Software (India), a mobile payment platform under Xiaomi, has been approved for registration with the registration number 2021SR2113824, the approval date is December 23, 2021, and the current version number is V1.0.
Moreover, Xiaomi Pay is an offline payment service provider. The company focuses on offline payment, involving offline mobile payment, door card simulation, NFC payment, and other fields. Users can use near-field communication technology in Xiaomi mobile phones.
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In 2020, Xiaomi Digital Technology, a subsidiary of Xiaomi Group, announced that its brand has been upgraded to Star Digital Technology, focusing on three things: using digital technology to serve the financial needs of physical enterprises in the industry, serving the transformation and upgrading of financial institutions, and serving individuals consumer.
Furthermore, in December 2018, Xiaomi launched MiPay in India in cooperation with ICICI Bank and PayU. It uses Indian UPI (Unified Payment Interface), which is a real-time inter-bank settlement service for mobile transactions. It can only be used on Xiaomi smartphones running MIUI firmware. Customers can make and receive remittances, pay bills, and buy mobile airtime.
