Xiaomi establishes m-payment subsidiary

Monday 10 February 2014 | 00:00 CET | News
Chinese Android device maker Xiaomi has established a mobile payment subsidiary called "Xiaomi Payment Technology". The company was registered in late December with an investment of CNY 50 milion, led by Hong Feng, the head of Xiaomi's MIUI product, the Marbridge Daily writes citing a Lieyunwang.com report. Xiaomi Payment Technology is rumoured to be looking at buying a third-party payment company to obtain a licence. The company would initially only provides services to Xiaomi itself, then expand this to Kingsoft and other businesses in which Xiaomi's CEO Lei Jun holds a stake.

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Categories: Mobile & Wireless
Companies: Xiaomi
Countries: China
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