Xiaomi enters the competitive payment market in India with their UPI based payment application “MiPay”. They are calling it the ‘ UPI app for Xiaomi users.’ MiPay will help users in availing services, which accept UPI payments like BBPS based utility bill payments i.e. mobile recharges, mobile bill payments, electricity bill, gas bill, water bill, DTH and broadband payments. Users can request or send money to any UPI user. MiPay can also be used for making bank payment across more than 120+ banks. Payments can be directly made from your bank account after linking it with the app.
Xiaomi phones is already providing features of scanning any UPI QR code and payments can be made through the app. Not just UPI, the app also has an option of using debit card, credit card and net banking. It is informed that Mi Pay comes pre-loaded in all Xiaomi phones.
How to get MiPay on your phone ?
Xiaomi MiPay is not an application which is available on PlayStore or iStore rather it’s an inbuilt feature in MIUI 10 framework.The payment solution is built into the MIUI 10 framework, and you will need a Xiaomi smartphone with MIUI 10 Global Beta ROM.
- After installing, signed in to Mi account on your smartphone and head over to Settings -> Accounts -> Mi Pay Account.
- Tap on My Profile, and see if your details have been pulled (Mi account number and phone number). The third option here is “Default Bank Account,” tap on it, and tap on “Add bank account.”
- It will fetch a list of banks that are a part of UPI (Unified Payments Interface).
- Tap on your preferred bank with which you have an account (SyndicateBank/HDFC / ICICI / SBI or so).
- The system will then look for your linked bank account, and fetch details. You will then be asked to enter your UPI PIN. If you’ve forgotten, you do have an option for forgot UPI PIN to reset it.
- For First time user – if user is not registered on UPI platform, MiPay will not work. Such users UPI registration required which needs debit card number, expiry date and CVV number. Create a UPI ID and the VPA (virtual payment address) using your credentials.
How to make payments using MiPay ?
Making payments like utility bill payments, fund transfer etc are as similar to other applications like Google Pay, Samsung Pay etc.