Xiaomi announced that it will offer a new payment option, powered by Google Tez, on its own e-commerce platforms. Tez is Google’s new digital payment app for India. The new payment option powered by Tez allows users to opt for a cashless transaction option on Mi.com and the Mi Store app. It means users can pay directly from their bank accounts online for any purchase that they make, further cementing Xiaomi’s commitment to contribute to the government’s Digital India initiative.
Based on UPI, an instant real-time digital system that enables users to perform fund transfers and merchant payments from multiple bank accounts, Tez offers a fast, seamless and secure payment method that will deliver more convenience to Xiaomi shoppers. Users on Mi.com and the Mi Store app would see an option to select Tez and pay conveniently using their Tez UPI IDs.
Mi.com on average gets over 21 million unique visitors in one month and over 1 million daily active users. Mi Store app on Google Play has over 20 million app installs with more than 6 million organic downloads to date.
Raghu Reddy, Head – Online Sales, Xiaomi India said: “Our vision is to bring innovation to everyone and our integration with Tez is another step forward in this direction. Xiaomi is currently the number one smartphone brand with a dominant online smartphone market share of 50.8%, of which a significant portion is attributed to Mi.com. With this new payment option, we hope to provide an even better purchasing experience that is truly cashless.”
Sujith Narayanan, Head of Partnerships and Business Development for Tez, said: “We are delighted to bring a seamless mobile web payment experience through Tez to Xiaomi customers on Mi.com. As a merchant partner for the Tez for Business program, all Xiaomi customers can now seamlessly and securely pay with any bank account stored in their Tez account on their phone.”