Xiaomi unveiled NFC Mi Pay Strap - NFC lanyards for contactless payment

Today during the event "The Future of Contactless Payments" at Global Fintech Festival, Xiaomi unveiled an unusual wearable device - NFC Mi Pay Strap.

What is it?

It is not a fitness tracker and not a smartwatch, but a common wrist strap, worn on wrist. Its main feature is the presence of NFC chip for contactless payments.

Very little information about product so far.  As a matter of fact, only a promotional poster has been published on Twitter, which shows the band itself and says that it will be available very soon. When exactly - neither poster, nor Xiaomi representatives do not specify.

Today we announced our entry into the FUTURE OF CONTACTLESS PAYMENTS at the Global Fintech Festival.

Thrilled to announce that we will be launching the Xiaomi NFC Mi Pay straps soon.

Working with @RuPay_npci, RBL & Zeta to make this happen.

Stay tuned.

pic.twitter.com/5yD2eywhPO - Raghu Reddy (@RaghuReddy505)

September 28, 2021 However, noted that it is already working in collaboration with various financial firms in India, including RuPay, RBL and Zeta. In other words, it is confirmed that Mi Pay Straps NFC will arrive in India and is likely to be part of Mi Credit or Mi Pay systems from Xiaomi.

We can assume that the straps will be inexpensive, as neither screen, nor other "stuffing"  they do not have. But whether they will enter the international market - remains to be seen.

Source: @RaghuReddy505, Gizmochina