UPI Based Mi Pay Rolls Out For All Android Users; Whatsapp Payment Should Be Worried!
Mi Pay, the app-based payment solution from Xiaomi is now available for all Android users, via Google Playstore.
Earlier, Mi Pay was available only for Xiaomi and Mi smartphone users, as the app was allowed to be downloaded from Mi App Store.
However now, even non-Xiaomi user can download the app from Google Playstore, and start using this UPI based payment platform.
But why Whatsapp payment should be worried?
Mi Pay Now Rolls Out For All Android Users
On Google Playstore, now any Android user, with any smartphone can download Mi Pay app, and start using it after linking their UPI id.
This way, Mi Pay app now directly competes with the likes of Google Pay, Paytm, PhonePe and other apps which are based on UPI and used for online transactions.
Users can transfer money to other UPI users, pay their bills, buy products and more, using Mi Pay app.
Features such as mobile recharge, bill payments, DTH bills, water bills etc are integrated with Mi Pay, and this can be a game changer.
However, the only limitation is that the user should have a Mi account.
Should Whatsapp Payment Be Worried?
As per September, 2019 numbers, Mi Pay has 18 million registered users in India, and its popularity is increasing at a fast pace.
Before, only Xiaomi and Mi smartphones were able to use Mi Pay payment platform, but now, every Android user can do the same.
On the other hand Whatsapp Payment, which is expected to be rolled out by December this year, is also based on UPI interface.
Since Mi Pay has launched their app earlier, this poses a challenge for Whatsapp, since Mi Pay will have the early-movers advantage.
Now, Xiaomi has 100 million users in India, which they have accumulated in the last 5 years.
Although Whatsapp has 400 million users in India, but the pace at which Mi Pay is growing is indeed staggering.
It would be interesting to know how Paytm, Google Pay and PhonePe, along with Whatsapp Payments counter this fresh challenge from Xiaomi.