Xiaomi Announces its Mobile Payment service Mi Pay

Earleir a month ago there were reports that Xiaomi will launch its own mobile payment system. So yesterday night at an event Xiaomi CEO, Lei Jun, announced the company’s Mobile based payment services Mi Pay. Now Xiaomi also joins the group of Samsung Pay, Android Pay and Apple pay.

The Xiaomi Mi5 is the smartphone from the company will get the Mi pay. However, Xiaomi Mi Pay is currently available in China only. It may come to other markets in future.  Now Coming to the Bank support the service, the list currently includes China Construction Bank, Bank of Communications, China Merchants Bank, Huaxia Bank, Minsheng Bank, Ping An Bank, and Industrial Bank.

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Moreover, Other banks – including Bank of China, Industrial and Commercial Bank, China Everbright Bank, Beijing Bank, and Guangdong Development Bank – will be added to the list next month.