There’s no stopping Xiaomi for getting back its crown in the Chinese mobile market. Huawei may be the King in China these days but Xiaomi has plans to introduce a new mobile payment service in the country. Mobile payment transactions are relatively new but after Samsung announced one for the emerging market, it has inspired other companies to follow suit.
Xiaomi is currently in talks with UnionPay to capture a larger percent of the market. The national bank card association in China is going to work with the phone maker to launch a new mobile payment product exclusive for Xiaomi devices only.
To make it possible, Xiaomi will have to add a Near Field Communication (NFC) feature to the phone as standard spec. There may be other similar technology available but for now, NFC is the easiest and most convenient to use. There’s no mention when the two will launch the payment service but we’re hoping this year. We’re sure it won’t be a problem because the two already worked on the QuickPass service. The idea is similar–placing the phones near a supported POS terminal (point-of-sale) via NFC.
The question whether this service will click in China is already answered. There are over 90 percent of Internet users in China that use mobile devices like a smartphone or tablet to access the web. However, Internet connection and access to websites or social networks are limited. The government of China puts limits on third-party content providers.
With Xiaomi, a Chinese company, working with another Chinese giant, it’s expected that they’re relationship will be smoother. The two will have to remain cordial and strive to deliver whatever product or service is planned or is in demand. With Apple Pay and Samsung Pay now being allowed in China, it’s about time that other Chinese companies step up and launch their very own.
VIA: Xinhua
