Xiaomi looked to build on its leading position [1] 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 Xiaomi Pay [2] to take on Google Pay and Samsung Pay.
[1] https://www.mobileworldlive.com/devices/news-devices/xiaomi-widens-india-smartphone-lead/[2] https://www.mobileworldlive.com/featured-content/money-home-banner/xiaomi-takes-on-google-paytm-with-india-pay-launch/
