Xiaomi forays into India’s UPI payments market with Mi Pay, assures all data will be stored locally

Xiaomi is bringing its Mi Pay UPI-based payments app to India. Mi Pay, as name suggests, is a “one-stop payments solution” for MIUI users -- people having a Xiaomi phone running MIUI software which means phones like Mi A2 (or even newly launched Redmi Go) that run stock Android will t be supported. It goes without saying n that Mi Pay app won’t be available on Google’s Play Store or Apple Store (anytime soon).  

Mi Pay service or app will be integrated into core UI of Xiaomi phones, so users will be able to access it across board from SMS, contacts, scanner, App Vault, or settings – it has been in beta for some time which explains why app comes pre-installed on new- Xiaomi phones like Redmi te 7 and Redmi te 7 Pro. 

Xiaomi has initially tied up with ICICI Bank as payment service provider for Mi Pay but more such partnerships should follow soon eugh - “consumers can effectively make payments using UPI and or debit cards, credit cards and internet banking across 120+ banks and over 120 billers,” Xiaomi says about Mi Pay payments app. app will, in dition, also allow MIUI users to digitally pay ir utility bills ranging from phone bills, phone recharges, water or electricity bill payments. 

Xiaomi is also touting fact that its Mi Pay app is has been approved by NPCI and it “provides most safe and secure transactions with all data stored locally in India servers in an encrypted format.” latter is in line with Xiaomi’s prior move wherein it h anunced that data of Indian users who use its products and services will t be stored outside India.  

"At Xiaomi, data privacy and security are of utmost importance to us. We are taking one more step towards user data security and privacy by bringing our cloud services to India for all local data needs. It's something our teams have been working tirelessly on and I am gl we have been able to turn this around for our India users. With data stored locally and encrypted end to end, users will be able to enjoy greater access speeds," Manu Jain, vice president, Xiaomi and managing director, Xiaomi India h said in August last year.  

Prior to this, all this data was stored in AWS servers across Singapore and United States. 

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