Xiaomi has just launched their Unified Payment Interface (UPI) based Mi Pay in India. Seems, they’re integrating it into their MIUI. It is supported by ICICI Bank and PayU.
Considering the Traditional online banking, debit/credit card payments and wallets, UPI is found to be more Flexible and anyone can able to easily adapt it, considering it’s convenience.
What is UPI ?
The Unified Payments Interface (UPI) is an instant payment system developed by the National Payments Corporation of India (NPCI), which is an umbrella organisation for operating retail payments and settlement systems in India. It is an RBI regulated entity which allows you to instantly transfer money between bank accounts.
To Try out MI pay earlier, Beta Program is going on for early adopters and you can sign up from here.