Realme Pay may launch in India today to take on Mi Pay, Google Pay and Paytm

“Realme India CEO Madhav Sheth says the company will launch a product during the Realme X2 launch event that will disrupt the financial services industry”

In addition to the Realme X2 and Realme Buds Air, Realme plans to launch another product that will “disrupt the financial services industry” as tweeted by Realme India CEO Madhav Sheth. Ahead of the Realme X2 launch event that is scheduled to begin at 12:30PM today, Sheth tweeted that the company will be launching its Realme financial services in India. It is unclear what Realme will be calling its financial service, but a Weibo post spotted a few days ago suggests it could be called Realme Pay.

Sheth has been hinting towards the launch of a new product or service related to finance. Earlier this month, the Realme India CEO tweeted, “You pay, borrow, save, invest and protect. What do you think is missing when you do this currently?” The service could be called Realme Pay and it could be a payments service similar to Xiaomi’s Mi Pay or Google Pay in India.

The Realme Pay name was spotted on Chinese microblogging site Weibo as a public beta service. At the time, users who tested the service in beta claimed bank support was limited. Realme would have partnered with top banking agencies in India to provide some sort of financial service for consumers, the exact details of which will likely be announced during the Realme X2 launch event later today.

If Realme Pay is indeed similar to Mi Pay, Google Pay and Paytm, it would suggest an app that will allow users to make train ticket reservations, book movie tickets and pay bills, among other things. The service could also support NFC as well. Realme Pay could also be a loan providing service similar to the Mi Credit service that was recently launched in India. We won’t have to wait to long to know how Realme plans to disrupt the financial services industry in India.

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