Xiaomi said it would evaluate the possibility of a Mi Wallet in India, but has no plans for it right now.
With so many cost conscious smartphones on sale in such large numbers, it would indeed seem like Xiaomi is shying away from Samsung, to introduce their own digital wallet service or payment app in one of their most important markets outside of China.
Samsung has Samsung Pay and while Apple has yet to introduce Apple Pay for its users, it begs the question, as to why a smartphone brand as popular as Xiaomi does not have its own wallet or payment service out yet.
At a recent briefing, Xiaomi global vice president and managing director of Xiaomi India, Manu Kumar Jain commented that the company currently runs quite a few internet services in India including its TV service along with its music services but in China there are a lot more.
"As for a digital wallet, it is something that we have to evaluate. We have no plans to get into it right now, but we have to evaluate before we launch any such services in India," he said.
" If the market is good enough, we would be happy to get into it," said Jain commenting on how internet services are the core product offerings by Xiaomi.
The difference between launching these services in China and India is to do with Xiaomi's user base.
When Xiaomi launched its services in China, it did so with a really large user base.
Xiaomi's strategy when it comes to selling products is to get users hooked on to its hardware, (smartphones, TVs, etc) and offer users internet services to pick from.
At the moment, Xiaomi's user base in India is still a fraction of its user base in China.
Updated Date: Apr 20, 2018 19:10 PM