In India, Xiaomi joins the mobile wallet war

This week Xiaomi, India's most popular smartphone brand, rolled out Mi Pay to customers. The wallet promises users your typical set of capabilities - cash transfers, phone credit top-ups, payments for utility bills and satellite TV, online shopping as well as in-store payments - using their ICICI or Pay U accounts, as well as UPI. India's wallet ecosystem is massively competitive with Paytm, WhatsApp, Tez all trying to users' capture hearts and minds. Xiaomi has some leverage in country though, making a phone every 3 seconds, and should emerge as a player in an already crowded market.


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