1 September 2016 marks the launch of Mi Pay. The new way to pay with Xiaomi smartphones in China is a collaboration between Xiaomi and China UnionPay. Mi Pay supports debit and credit cards from 20 banks today. They include Bank of China, Industrial and Commercial Bank of China, China Construction Bank, Bank of Communications and China Merchants Bank.
Xiaomi now supports public transportation cards from six cities across China making it the first in the world to support contactless payments through both bank cards and public transportation cards.
Add your China UnionPay and public transportation cards to the Mi Wallet app so you don’t have to bring your wallets with you. There are four simple steps to add your bank card to Mi Pay –
- Open the Mi Wallet app
- Select the option to add a bank card
- Key in bank card details
- Go through SMS verification for final confirmation
Using Mi Pay to pay for your purchases is easy. Just hold your smartphone near China UnionPay’s QuickPass-enabled POS terminals and the bank card details will pop up. Fingerprint verification then activates the device and the bank card can be used. Up to eight cards can be tied to any one device.
Xiaomi believes that Mi Pay will be a key driving force in promoting the development of China’s mobile payments industry. It has incorporated multiple authentication mechanisms to protect user information when adding a bank card, smartphone theft or loss as well as attempted fraud.