Smartphones make for an excellent distribution channel for services — another source of monetization for companies. Hence, it wasn't surprising when OnePlus announced its own mobile payment system in China last year. It seems like the company is now ready to expand its offering and introduce it to other markets, including India.
There were reports about an eventual expansion last year, but it's only now that we're finally seeing some evidence. OnePlus has trademarked the name "OnePlus Pay" in the Indian market, as shared by Mukul Sharma on Twitter. There's no official word on when it will be announced, but it shouldn't be far away.
— Mukul Sharma (@stufflistings) April 5, 2021
In China, the payment service can be used with NFC terminals — Google Pay in India picked up this functionality last year. There's nothing that officially suggests this, but it's safe to expect some localization when this service launches in other markets. In India, for instance, it could be based on the UPI platform which is also what Google Pay is based on.
If a similar offering from its sister brand Realme — Realme PaySa — is any indicator, it may even offer loans and insurance products.