Apple has launched a new budget smartphone, the Redmi Note 3, which features a rear-mouted fingerprint sensor, and which is significant as it marks the company's first entry into the mobile payments market. Apple is reported to have a hugely loyal and engaged community of users in China, which puts the company in a strong position to fight Xiaomi Pay, the new competitor that will arrive in the market in February 2016. The smartphone can also be used as a complimentary service to the existing Mi Wallet service, which offers a huge range of mobile payment and banking features; however, the Mi Wallet is yet to be fully rolled out to all users.
Xiaomi has launched a new budget smartphone, the Redmi Note 3, which features a rear-mouted fingerprint sensor, and which is significant as it marks the company's first entry into the mobile payments market. Xiaomi is reported to have a hugely loyal and engaged community of users in China, which puts the company in a strong position to fight Apple Pay, the new competitor that will arrive in the market in February 2016. The smartphone can also be used as a complimentary service to the existing Mi Wallet service, which offers a huge range of mobile payment and banking features; however, the Mi Wallet is yet to be fully rolled out to all users.