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Xiaomi and Alibaba Group Partner on Mobile Payments for Wearables

Xiaomi and Alibaba Group Partner on Mobile Payments for Wearables 4x1n4i

By Reuters | Updated: 2 April 2015 17:40 IST

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Alibaba Group Holding Ltd's finance arm and smartphone maker Xiaomi Inc said on Thursday they will tly develop mobile payment systems using wearable technology, a first for China's major tech firms.

Xiaomi and Ant Financial, an Alibaba which includes China's most popular online payment service Alipay, will enable the Alipay Wallet mobile app to link with Xiaomi's Mi Band smart fitness bracelet. That will let s smooth the process of making payments, bying the need for s. 4a2t3j

Although a small step for an emergent technology tipped to eventually replace wallets, the partnership marks a milestone in China where the function has thus far been more pipedream than reality.

The Alipay-Mi Band link will be made available on the current version of Alipay Wallet for Android mobile operating system, which runs on handsets including those of Xiaomi. The next version will be compatible with Apple Inc's iOS.

The encrypted link will avoid potential security pitfalls of near-field communications (NFC) wireless technology, which has been criticised for potential vulnerability to theft and cyber-attacks. Apple Watch, to be released this month, rather than on a phone.

© Thomson Reuters 2015

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