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OnePlus Pay is expected to be the next big service from the brand and it will likely launch later this year. OnePlus Pay is an NFC-based mobile payments service that will take on Google Pay, Samsung Pay, and others. OnePlus Pay was launched in 2019 in China, and the company hasn’t launched the service in any other country since then.
Overall, OnePlus has a 2.5% market share in the Indian smartphone market. However, in the premium segment, which has phones priced at over INR 25,000, the Chinese company has a 15% market share.
The trademark filing for OnePlus Pay was tweeted by tipster Mukul Sharma (@stufflistings). The tweet shows the trademark filed by OnePlus and accepted by the Registrar of Trademarks. The mobile payments service may come with a mobile wallet along with NFC-based payments to rival the likes of Apple, Google, and Samsung payment services. The trademark by OnePlus was filed on March 30 and there has been no further information regarding this.
If its application for a trademark means that OnePlus would indeed launch a payments product in India, it would be entering an already cluttered market, with several third-party application providers (TPAPs) such as Google Pay, PhonePe, Paytm, Amazon Pay, and WhatsApp Pay vying for a piece of the Unified Payments Interface (UPI) market.
How users can use it?
The company has said the upcoming OTA update to the OnePlus Watch will allow users to customize the pre-set reply list to instantly reply to messages on the Watch. This isn’t currently available.
OnePlus Pay will look to take on current payments giants like Google Pay, PhonePe, Paytm, and others in the country. OnePlus Pay is currently available in China via the Wallet app and is exclusive to HydrogenOS. This should allow OnePlus users to make mobile payments quickly.