Xiaomi has announced the NFC Pay Strap that will enable contactless payments. The strap will use the near-field communication (NFC) technology to enable the process.
The Chinese company has also announced that it had partnered with three banks and merchants as its initial partners. However, it has not confirmed if it would bring on board other banks and merchants as partners in the future. Xiaomi has also not made too much information available about the NFC Pay Strap.
Raghu Reddy, Xiaomi’s Chief Business Officer, tweeted about the upcoming NFC Pay Strap, which the company played up as the “future of contactless payments” at the Global FinTech Festival. Reddy did not mention any launch date in his tweet, but teased that the Xiaomi NFC Pay Strap would release soon.
Today we announced our entry into the FUTURE OF CONTACTLESS PAYMENTS at the Global Fintech Festival.
Thrilled to announce that we will be launching the Xiaomi NFC Mi Pay straps soon.
Working with @RuPay_npci, RBL & Zeta to make this happen.
Stay tuned. pic.twitter.com/5yD2eywhPO
— Raghu Reddy (@RaghuReddy505) September 28, 2021
Reddy mentioned that the Xiaomi NFC Pay Strap would work with RBL Bank, RuPay, and fintech platform Zeta, and Xiaomi’s proprietary Mi Pay app. The tweet shared by Reddy only shows the picture of a smartwatch strap stamped with the NFC logo.
The Chinese tech giant launched in India its popular Mi Band 6 during August’s Smarter Living 2022 virtual event. The Mi Band 6 comes with a 1.56-inch fullscreen AMOLED touch display, offering 326ppi pixel density and 450nits of peak brightness. Xiaomi has said the band would last up to a fortnight on a single charge. The band is also 5ATM water resistant and ships with a magnetic port for quick charging.
The Bluetooth v5 connectivity on the Mi Band 6 enables it to connect seamlessly with both iOS and Android devices. The fitness band also features several sensors that can help monitor heart rate and blood oxygen saturation (SpO2) and sleep tracking to monitor sleep cycles, naps, and sleep breathing quality.
