Xiaomi halts its monetary providers enterprise in India, pulls Mi Pay and Mi Credit score apps from the Play Retailer

Xiaomi halts its monetary providers enterprise in India, pulls Mi Pay and Mi Credit score apps from the Play Retailer
Xiaomi halts its monetary providers enterprise in India, pulls Mi Pay and Mi Credit score apps from the Play Retailer
Chinese language smartphone maker Xiaomi Corp (1810.HK) is winding down its monetary providers enterprise in India, TechCrunch reported on Friday, citing sources conversant in the matter.
Three years after its launch, Mi Pay, which allowed customers to make invoice funds and cash transfers, is now not listed among the many acknowledged apps by regulatory physique Nationwide Funds Company of India (NPCI), TechCrunch stated.
Xiaomi and NPCI didn’t instantly didn’t reply to a Reuters request for a remark.
In India, Xiaomi’s strongest market exterior of China, the corporate has been topic to authorities probes for allegedly dodging tax regulators.

An Indian courtroom not too long ago declined to raise a freeze on Xiaomi’s $676 million value of belongings, even because the Chinese language smartphone group stated this enforcement motion had “successfully halted” its operations in its key Indian market.