Xiaomi has been reported to launch a payments service in China for a few time currently, and also the merchandiser has declared nowadays that it's partnering with China UnionPay over the service. there is no mention of a timeline, however Xiaomi chief executive officer Lei Jun told Xinhua that the service are AN NFC-based resolution.
It is sensible for Xiaomi to come back up with its own payments service, because the merchandiser sells a series of way product additionally to smartphone and tablets. Its latest phones — Redmi Note three and also the Mi five — provide fingerprint sensors which will be wont to attest payments. the seller has teamed up with NXP earlier this year to modify mobile payments victimization the Mi five at transit stations across the country.
However, Xiaomi can face AN uphill battle during this phase, because it won't solely got to go up against native players like Alibaba and Tencent, however will got to vie with Samsung Pay and Apple Pay within the country.
Source Gsmarena
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