Xiaomi introduces Google Tez payment option in Mi.com, Mi app

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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.

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).

In a bid to tap India's rapidly-growing digital payments market, Google has launched its ‘Tez’ application. Built on the government-backed Unified Payment Interface (UPI) platform, the app will allow users to securely pay for goods and services both online and offline, and also make person-to-person transactions.

Digital payments have got a huge push post the government's demonetisation exercise in November last year. According to government estimates, digital economy has the potential to go up to $1trillion in the next few years. Finance minister Arun Jaitley, who launched Tez, observed that during November, December and January a lot of people made digital payments more out of compulsion than finding it a more convenient method to transact. But that compulsion created a habit for many, he said. "We reached a peak figure (after the demonetisation), then it marginally slipped and is now bound to pick up again," Jaitley said.

"Now, the time has come with the application as simple as this that what started as compulsion becomes a matter of convenience and eventually a matter of spending habit as far as Indian people are concerned," said Jaitley.

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