Mobile payment is apparently the new goldmine especially for mobile phone manufacturers. There is Apple Pay, there’s Samsung Pay, and now we have a new player entering the block. Popular Chinese OEM, Xiaomi, is gearing up to launch a mobile payment service. Yes; a Xiaomi mobile payment service.
On Thursday, the company announced they would launch the service in partnership with national bank card association China, UnionPay. The two parties will design a mobile payment product for Xiaomi’s smartphones, though they didn’t specify when it will be launched.
In China, there are strong competitors in the shape of Alibaba and Tencent. Then there are new entrants like Samsung Pay and Apple Pay. A Xiaomi mobile payment platform will be the Chinese manufacturer’s way of getting a piece of the huge e-commerce cake.