xiaomi nfc enabled watch straps: Xiaomi’s new innovation! Watch Belt will pay, know how and in which watches the technology will work – xiaomi soon to be launch nfc enabled watch straps offer contactless payments to users
The announcement was in line with the first day of the Global Fintech Festival, which touched on India’s expansion into the modern, digital finance space. A News18 report quoted Rajesh Bansal, CEO, RBI Innovation Hub, as saying that UPI payments in India are estimated to be around Rs 2.3 lakh crore by 2021, but will increase to Rs 6.2 lakh crore by 2025 – hence the potential Roop is growing at a CAGR of 22% over the next four years. Bansal reportedly said that only one in five people across the country are actively using digital payments right now, adding that this reflects the wide range of growth that fintech firms in India will have in the immediate future. Is.
Bansal also underlined how India’s GDP ratio of 14.1 per cent is far behind the OECD countries’ ratio of less than 5 per cent. With devices like the Xiaomi NFC Watch Strap for contactless payments, more users in India may start adopting online financial services as the ease of making payments increases. As of now, the straps do not have a launch date or price tag in the country, and even its exact launch date is not known. It’s also unclear which watches the NFC straps will work with, and it will be interesting to see if they bring contactless payments to analog watches.
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