Xiaomi winds down financial services business in India

Xiaomi has quietly discontinued its financial services business in India, less than three years after launching payment and lending services in the key global market, two sources familiar with the matter told TechCrunch, retreating from what analysts say is a $1 trillion opportunity.
The Chinese giant recently pulled the Mi Pay and Mi Credit apps in the country from the local Play Store and its own app store. Mi Pay, which allowed users to make transactions on the nation’s UPI payments network, is also no longer listed among the recognized UPI apps by NPCI, an industry body that oversees

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