Xiaomi will also issue its credit card

Xiaomi credit card: Recently, Apple introduced its new services and credit card – Apple Card. Xiaomi, it seems, also decided to follow the same path.

What is cooking?

The company showed a teaser on which a credit card is clearly visible. Neither the release date nor any other details Xiaomi have reported.

Xiaomi credit card

According to rumors, the credit card will be issued in cooperation with four Chinese banks or just one of them. Most likely, users will be offered loans for the company’s products and all sorts of discounts and cash back.

It can be assumed that the credit card will be called Mi-Card, and it will be released very soon since Xiaomi has launched an advertising campaign.

By the way, this is not the first experience for Xiaomi: about a year ago, it issued physical credit cards in cooperation with China CITIC Bank.

Prior to this, Xiaomi has upgraded the new finance to one of the company’s five core strategies.

Xiaomi launched the Internet finance business in 2015 and developed innovative financial products and Internet payment platforms to meet the different financial goals of users.

Loan products include installment loans and consumer loans, which users can use to purchase millet hardware. Loan products are mainly distributed through Xiaomi Finance, Xiaomi Wallet and Xiaomi Loan mobile app.

As of December 31, 2017, Xiaomi Financial’s total assets will account for approximately 14.1% of the Group.

According to Xiaomi Group’s total assets of RMB 89.9 billion in 2017, Xiaomi Finance’s total assets have reached 12.676 billion yuan last year; the corresponding valuation is expected to reach About 7 billion dollars.

Source: MyDrivers

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