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Xiaomi is Planning to Launch its Own Contactless Payment Service in Russia
15.06.2019 09:56
Xiaomi is Planning to Launch its Own Contactless Payment Service in Russia

The manufacturer of smartphones and smart devices Xiaomi is planning to launch its own contactless payment service, Mi Pay, in Russia, according to The launch will take place as a part of the strategic partnership of the manufacturer with the Mastercard payment system.

      According to the representative of Xiaomi, the service will be launched in the “coming months”. It will work on new models of smartphones and wearable devices of the company that support contactless payment.

      Xiaomi emphasizes the fact that transactions through the service are protected by Mastercard tokenization technology. When you connect a card, a 16-digit combination of numbers is created and tied to an application on a specific device, thus the card number is not stored on the device itself, the company’s servers or in stores.

      Read More Articles about Russian Economy and Business

Author: Anna Dorozhkina

Tags: Russian business Russian companies    

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