Users can now make cashless transactions on both Mi.com and the Mi Store app with Tez.

Xiaomi launches Google Tez-powered payment service
Atom Digital Payments Thursday, December 21, 2017 - 09:08

Chinese handset maker Xiaomi on Wednesday introduced a new payment service, powered by Google Tez, on its e-commerce platform Mi.com and Mi Store app.

Users can now make cashless transactions on both Mi.com and the Mi Store app as Google Tez payments service operates atop the Unified Payments Interface (UPI).

"As a merchant partner for Tez for business programme, all Xiaomi customers can now seamlessly and securely pay with any bank account stored in their Tez account on their phone," Sujith Narayanan, Head of Partnerships and Business Development, Tez, said in a statement.

Users can pay directly from their bank accounts online for any purchase that they make, further cementing Xiaomi's commitment to contribute to the "Digital India" initiative.

"Our vision is to bring innovation to everyone and our integration with Tez is another step forward in this direction. We hope to provide an even better purchasing experience that is cashless," added Raghu Reddy, Head - Online Sales, Xiaomi India.

Google had launched its UPI-based Tez payments app in India in September that was built for India.

Tez, which means fast in Hindi, is a standalone payments app that can be downloaded on Android and iOS devices. It is based on UPI -- a payments protocol built by government-backed National Payment Corporation of India (NPCI).

The user interface is fairly simple and the user is asked to sign into the application using the mobile number that is registered with the bank account. 

Working on the vast majority of the country's smartphones, the app is available in English and seven Indian languages (Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil and Telugu).

Having processed over 140 million transactions from nearly 12 million active users and more than 525,000 merchants already on Tez, the company also brought bill payment facilities on the digital payment app.

(With IANS inputs)

Show us some love and support our journalism by becoming a TNM Member - Click here.