The mobile payments solution market is quickly becoming crowded and complicated. Depending on the country you live in, the device you carry, the smartphone OS it runs, the bank you get your cards from, and maybe even your operator, chances are you have to use a very specific payment solution. And vendors, banks, developers, are left to figure out a way to make it work for the largest number of customers.
Chinese users with a Xiaomi phone will have one more option now: Mi Pay. Launching today with China UnionPay, a large payment network similar to Visa and Mastercard, Mi Pay supports credit cards from 20 banks and debit cards from 12, including Bank of China, Industrial and Commercial Bank of China, China Construction Bank, Bank of Communications, and China Merchants Bank, as well as public transportation cards from six cities (that's another known payment method in China). TheRead More