Xiaomi announces new NFC Mi Pay Straps for payments in India

xiaomi announces new nfc mi pay straps for payments in india

Xiaomi has partnered with RuPay, RBL Bank, and fintech platform Zeta to power the new Xiaomi NFC Mi Pay Strap.

Xiaomi has teased a new contactless payment solution called NFC Mi Pay Strap in India. The upcoming NFC strip has been officially teased on Twitter. Xiaomi executive Raghu Reddy shared the information on Twitter, where he wrote the "future of contactless payments" at the ongoing virtual-only Global Fintech Festival. With this, the company shared the idea of coming up with a Xiaomi NFC Mi Pay strap soon.

There are not much details about the product for now, but this product aims to increasethe adoption of Mi Pay in India among Xiaomi users.For it to work seamlessly in India, Xiaomi has partnered with RuPay, RBL Bank, and fintech platform Zeta to power the new Xiaomi NFC Mi Pay Strap. While this may hint at limited support for the contactless payment service by Xiaomi, the company will likely include more partners going forward.

These NFC-enabled watch straps are designed to be compatible with more than one wristwatch. Though it is likely that the NFC Pay strap by Xiaomi will be compatible with its own watch offerings. The main highlighting feature of the NFC strip is that it can work without any power. It can be tapped to a point-of-sale device for making contactless payments. In addition, it can also be configured to work for specific purposes, such as metro tokens, debit cards, unlocking gadgets, etc., with just a touch of the wrist.