Xiaomi looked to build on its leading position in the Indian smartphone market with a move into financial services, launching a credit recommendation service for Android device users, TechCrunch reported.
The Chinese vendor moved to a full deployment of its Mi Credit app following a beta trial commenced in May 2018. At the time, Xiaomi partnered with personal loan company KreditBee to help users arrange loans of between INR5,000 ($69.71) and INR100,000.
While available only on Xiaomi devices at beta, the expansion opens the app to other Android smartphones. Xiaomi also increased its list of financial partners, with ZestMoney; CreditVidya; Money View; Aditya Birla Finance; and EarlySalary added to its roster.
Mi Credit is available in 1,500 postal codes out of 19,100 in the country: TechCrunch stated Xiaomi aims to deliver nationwide coverage by March 2020.
Earlier this year, Xiaomi launched mobile payment service Mi Pay to take on Google Pay and Samsung Pay.Subscribe to our daily newsletter Back