Xiaomi’s Mi Band wearable will connect with Alibaba’s Alipay Wallet app to move both companies into the wearable payment sector.
Ant Financial, the finance arm of Alibaba Group, and smartphone manufacturer Xiaomi have announced they are jointly developing a mobile payment system that will employ wearable technology, making the two companies the first of China’s major tech firms to do so.
Ant Financial, which is responsible for Alipay, China’s most popular digital payment system, will enable the Alipay Wallet mobile app to connect with Xiaomi’s recently released Mi Band wearable, enabling users to make payments with the fitness tracking bracelet.
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