Xiaomi & AliPay partner to develop wearable payments device
Huami, the maker of Xiaomi's MiBand, has partnered with Alipay to develop smart wristbands that incorporate mobile payments.
The partnership will enable users to link their Mi Band smart fitness bracelet with Alipay Wallet mobile app and make payments without entering a password.
The payments will only be processed when the wristband is connected to a user’s smartphone via Bluetooth.
The new payment system aims to simplify the authentication process for Mi Band users, thereby increasing efficiency.
The new Xiaomi band will use industry standard encryption to secure payments under which each user will be given a unique identifer and payments can be processed only when this pairs with its pre-set Alipay account.
This feature is currently available for Alipay’s 8.6 Android update, with the iOS version to be launched soon.
Furthermore, Alipay has offered mobile payment, alerts and voucher verification access to Huami.