Xiaomi and China UnionPay launch Mi Pay in China

Xiaomi has become the first smartphone company in the world to support contactless payments through both bank cards and public transportation cards. Learn more about the Mi Pay services launched by Xiaomi.

BEIJING, 1 September 2016 — Xiaomi and China UnionPay, one of the world's largest payment
networks, jointly launched Mi Pay today, introducing a revolutionary way to pay with Xiaomi
smartphones in China. At launch today, Mi Pay supports debit and credit cards from 20 banks.
At the same time, Xiaomi announced that it now supports public transportation cards from six cities
across China. With this, Xiaomi has become the first smartphone company in the world to support
contactless payments through both bank cards and public transportation cards.
Users can simply add their China UnionPay and public transportation cards to the Mi Wallet app,
eliminating the need to bring their wallets out and making it even more convenient to go about their
daily lives.

Mi Pay

As China's only bank card association operating an interbank transaction settlement system, China
UnionPay is now one of the world's largest payment networks, alongside Visa and Mastercard.
Xiaomi founder and CEO Lei Jun said: "China UnionPay is a leader in the payments industry with
global influence. In the field of mobile payments, China UnionPay has been committed to
collaborating with various stakeholders to build a structured and sustainable ecosystem. After
cooperating with China UnionPay over the past three years, Xiaomi is now truly excited about our
joint partnership to launch Mi Pay. We believe that Mi Pay will be a key driving force in promoting the
development of China's mobile payments industry, and deliver much more convenience to our

At launch, Mi Pay supports credit cards from 20 banks and debit cards from 12 banks including
those from Bank of China, Industrial and Commercial Bank of China, China Construction Bank, Bank
of Communications and China Merchants Bank.

In recent years, NFC technology has been dramatically changing the landscape of mobile payments
in China. Mi Pay makes use of NFC technology — Xiaomi smartphones with NFC (for example, Mi
5) have a built-in NFC chip with a separate secure element chip that has passed the "EAL 6+"
security test. Through a variety of tests, the secure element chip has been proven to withstand a
variety of invasive, semi-invasive and non-invasive attacks, providing users with the highest level of
data protection and encryption.

Other than hardware-level security, Xiaomi has also incorporated multiple authentication
mechanisms that protect user information in these scenarios: adding a bank card, smartphone theft
or loss, and attempted fraud. For example, users have to be logged in to their Mi Account when they
are adding a bank card, which ensures the safety of their personal data. For transactions, Mi Pay
employs tokenization to protect plain text credit card information, and makes users verify their
fingerprint for maximum security. If a device is lost, users can turn off Mi Pay through the official
website, and find their device using Mi Cloud.

Binding a bank card to Mi Pay takes just four steps: Open the Mi Wallet app, select the option to add
a bank card, key in the bank card details, and go through SMS verification for final confirmation.
In stores, instead of having to swipe a card when making payment, users just have to hold their
device near China UnionPay's QuickPass-enabled POS terminals and the bank card details will pop
up. After fingerprint verification, the device is then activated and can be used as a bank card. This
results in an extremely simplified payment process: users can complete their transactions just by
holding their smartphone near the POS terminal with a finger on the fingerprint scanner.
Up to eight cards can be tied to any one device. Mi Pay users also get to benefit from promotions
and rewards offered by the banks.

China UnionPay is a bank card association that has become a crucial part of China's bank card
industry, playing an essential role in the interconnection between bank card systems. Its main
responsibilities include establishing and operating an inter-bank transaction settlement system in
China, and promoting unified bank card standards and specifications.

In order to meet the growing demand for card use of the Chinese in overseas business, travel and
study, and to extend the services of domestic commercial banks abroad via the UnionPay network,
UnionPay is dedicated to the construction of an international acceptance network. As of today,
UnionPay cards are accepted in 150 countries and regions outside China.


Guest Author: Abhishek01 Sep 2016

Thanks for sharing the news. When are they planning to launch Mi Pay in India? I am looking forward to it.

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