Xiaomi to enter the mobile payments space?

Xiaomi to enter the mobile payments space?

Xiaomi may be entering the mobile payments space, according to a techweb.com.cn report.

The Chinese firm has already setup a dedicated company called Xiaomi Pay, which is apparently in the midst of conducting R&D on e-payment technology and related services.

Xiaomi’s founder and CEO Lei Jun is the legal representative and chairman of Xiaomi Pay. However, the firm will still need approval from the People’s Bank of China to actually provide e-payment services to customers. At the time of this writing, Xiaomi still didn’t have that license.

More importantly, we’re not sure whether Xiaomi will launch this service in China only, or eventually offer it all around the world. Before that, it needs to make its awesome devices available in more countries all across the planet. And that’s something they’re working on as we speak. We’ll let you know when we have something new to add here…

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