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OnePlus has launched its digital wallet and mobile payments solution called OnePlus Pay in China. The service is currently limited to China and exclusively available on OnePlus 7T and OnePlus 7T Pro smartphones. According to a post on the company’s official China forum, OnePlus Pay service is being rolled out in a phased manner across China.
The company states that it has been testing it OnePlus Pay service for over half a year and is now confident enough to roll it out to users. The service is currently exclusive to HydrogenOS, the China-specific skin for OnePlus devices.
To make payments via NFC using the OnePlus Pay service, users have to set OnePlus Pay as the default NFC-based payments app on their phone. After doing that they need to open the app and enter their banking details to activate the service.
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To recall, the company had announced that it will soon be launching its OnePlus Pay payments service back in September. There is still no clue when the company will be rolling out this service to international markets. If and when this service comes to India it will be competing with rivals like Samsung Pay and Google Pay.
The company in its post stated that its payments solution is faster and more convenient to use than its rivals WeChat and Alipay, both of which are the biggest payments solution provider in China. But unlike WeChat and Alipay, OnePlus Pay currently supports a select list of apps in which it can operate. The company has said that it is currently in negotiation with more potential banking partners in China, which will help this list grow.
In China, the service will also be competing against the likes of Xiaomi’s Mi Pay service, which also is an NFC-based mobile payment system. It was launched back in 2016 in partnership with UnionPay. In 2018, the company did bring the service to India in partnership with ICICI Bank. However, the Indian version of the app does not support NFC based contact-less payments option.
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Source : https://indianexpress.com/article/technology/social/oneplus-pay-launched-will-compete-against-mi-pay-alipay-and-wechat-6331029/