Onsitego Blog
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Reviews
  • Buying Guide
  • Explainers
  • How-To
Onsitego Blog
  • Home
  • News
  • Reviews
  • Buying Guide
  • Explainers
  • How-To
No Result
View All Result
Onsitego Blog
No Result
View All Result
Home News

Xiaomi Quietly Discontinues Mi Credit And Mi Pay Apps In India

Ritesh SinghbyRitesh Singh
29/10/2022
in News
0
Mi Credit
WhatsAppFacebookTwitter

Xiaomi has quietly discontinued its finance apps in Indiia. The company has taken down its Mi Credit and Mi Pay apps from the Google Play Store and its own app store in India. The would come pre-installed in Xiaomi smartphones. However, the company has decided to discontinue it as part of a strategic rejig. 

Mi Pay was launched in India in 2019 and had more than 20 million users in the country, according to Xiaomi. The app was powered by ICICI Bank and enabled users to pay with UPI, credit cards, debit cards, and internet banking. However, the payment was no longer listed among the recognised UPI apps by the National Payments Corporation of India (NPCI), the organisation that facilitates UPI payments in India. 

Xiaomi also introduced the Mi Credit app some time later in 2019, that offered customers loans via a digital lending platform. The app disbursed loans between ₹5,000 to ₹1,00,000 at low interest rates. The company had partnered with local startups like Aditya Birla Finance, ZestMoney, CreditVidya, Money View, and EarlySalary. The app could scan through transactions via the SMS app to determine the creditworthiness of the individual seeking a loan, for loan disbursements within minutes. 

Also Read
Best Flagship Smartphones (2021) Awards

Subscribe to Onsitego

Get the latest technology news, reviews, and opinions on tech products right into your inbox


    Both apps have been shuttered for sometime now. Xiaomi quietly took the apps down in March 2022. 

    “As part of the annual strategic assessment activity and as a response to enhanced focus on our core business services, we closed the Mi Financial Services in March 2022. In a short span of 4 years, we were able to connect and support thousands of customers. We are working with our partners and supporting our consumers during this process,” a Xiaomi spokesperson said.

    Xiaomi is presently under investigation for sending money out of the country illegally under the guise of royalties. The enforcement directorate has frozen the company’s bank assets worth over ₹5,500 crores. The company has denied any wrongdoing and has maintained that all its royalty payments have been part of standard industry practice and that they are above board.

    -

    Thank You For Your Vote!

    Sorry You have Already Voted!

    Follow Onsitego on Facebook, Instagram, Twitter, and YouTube to get the latest news, reviews, maintenance tips, and videos about your favourite gadgets and appliances.

    Tags: Mi CreditMi PayXiaomi
    SendShareTweet

    Discussion about this post

    Recommended

    Tecno Phantom X2 With Dimensity 9000 Processor, Phantom X2 Pro With Retractable Portrait Lens Launched: Price, Specs

    Tecno Phantom X2 With Dimensity 9000 Processor, Phantom X2 Pro With Retractable Portrait Lens Launched: Price, Specs

    16/12/2022
    Samsung Galaxy M04 With MediaTek Helio P35 Processor, 5,000mAh Battery Launched In India: Price, Specs

    Samsung Galaxy M04 With MediaTek Helio P35 Processor, 5,000mAh Battery Launched In India: Price, Specs

    16/12/2022
    Apple watchOS 9.2 Beta 2 Rolls Out To Developers

    Apple watchOS 9.2 Update Released, Brings Improved Battery Life On Apple Watch Ultra

    15/12/2022
    OPPO Reno 8 Pro 'House Of The Dragon' Limited Edition Launched In India: Price, Specifications

    OPPO Reno 8 Pro House Of The Dragon Limited Edition Smartphone Launched In India: Price, Specifications

    14/12/2022
    iQOO Neo 7 SE With 6.78-inch FHD+ 120Hz AMOLED Display, Dimensity 8200 Processor, 5,000mAh Battery Launched: Price, Specs

    iQOO Neo 7 SE With 6.78-inch 120Hz AMOLED Display, Dimensity 8200 Processor Launched: Price, Specifications

    14/12/2022
    Realme 10 Pro, Realme 10 Pro+ With 120Hz Display, 108MP Camera, 5,000mAh Battery Launched In India: Price, Specs

    Realme 10 Pro, Realme 10 Pro+ With 120Hz Display, 108MP Camera, 5,000mAh Battery Launched In India: Price, Specs

    14/12/2022

    About Onsitego

    • About Onsitego
    • What We Do
    • The Team
    • Write For Us
    • Talk To An Expert
    • Become An Affiliate Partner
    • Subscribe To RSS Feeds

    Water Purifier Services

    UV & RO Service in Mumbai
    UV & RO Service in Delhi NCR
    UV & RO Service in Bangalore
    UV & RO Service in Pune
    UV & RO Service in Hyderabad
    UV & RO Service in Chennai

    You Might be interested in

    • Air Conditioner Protection Plans
    • Refrigerator Protection Plans
    • Washing Machine Protection Plans
    • Television Protection Plans
    • Digital Camera Protection Plans
    • Laptop Protection Plans
    • Tablet Protection Plans
    • Mobile Protection Plans

    Our Servicers

    AC Repair & Service in Mumbai
    AC Repair & Service in Delhi NCR
    AC Repair & Service in Bangalore
    AC Repair & Service in Pune
    AC Repair & Service in Hyderabad
    AC Repair & Service in Chennai

    Laptop Repair Service in Mumbai
    Laptop Repair Service in Bangalore
    Laptop Repair Service in Delhi NCR

    • About
    • Contact

    © 2022 Onsitego Blog | Electronic news, views and reviews of the best selling gadgets and home appliances..

    No Result
    View All Result
    • Home
    • News
    • Reviews
    • Buying Guide
    • Explainers
    • How-To

    © 2022 Onsitego Blog | Electronic news, views and reviews of the best selling gadgets and home appliances..

    Get Onsitego's mobile app!

    Download