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Xiaomi QuickPass mobile payment system coming soon

Xiaomi Mi 5 Android handset,
Xiaomi Mi 5
The phone maker and UnionPay are working on QuickPass, a mobile wallet for Xiaomi handsets, but its date of arrival is unknown for now.

When talking about smartphone-driven services, mobile payments are currently growing at a steady rate and this trend is not going to change too soon. However, grabbing a consistent slice of the market is not that easy, since big players like Apple, Google, and Samsung have been active in this field for a while already. Nevertheless, Xiaomi has decided to join this market as well, and its upcoming mobile wallet will launch as QuickPass.

Xinhuanet has just revealed that "Xiaomi has announced plans to work with national bank card association China UnionPay to grab a bigger share of the growing mobile payment market." Unfortunately, they did not uncover any details concerning the date when the QuickPass service is scheduled to go live with full support for Xiaomi's handsets. 

Last year, Xiaomi was the top smartphone seller in China. According to analysts, the local mobile payment market processed no less than 2.52 trillion USD during 2015. The market is currently dominated by Alibaba and Tencent, but both Apple Pay and Samsung Pay entered China earlier this year.


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Codrut Nistor, 2016-04-25 (Update: 2016-04-25)