01 October 2019
The OnePlus launch event was mainly about hardware announcements which we saw in the form of the new OnePlus 7T and OnePlus TV. And even though we have gotten used to hearing companies say, "There is one more thing", OnePlus had exactly the same in the store for the audience. This unexpected announcement was about a software service i.e. OnePlus Pay.
OnePlus Pay is a mobile payment solution that OnePlus will be offering starting at some point in 2020. Szymon Kopec, OnePlus' Head of Software Product Growth division, did not offer any further details about the service. He only mentioned the name, tentative release timeline, and that the team is working on the service for a little over a year.
Since the launch event was held in India, OnePlus Pay is confirmed to land in India first. There are no details regarding international availability yet. Even though OnePlus is keeping quite about the service, it is not hard to guess why it is venturing into the mobile payment sector. India is home to numerous mobile payment apps and services like Google Pay, Amazon Pay, Samsung Pay, PhonePe, and Paytm. There are similar apps from respective banks as well.
Much of the OnePlus Pay details are currently under wraps but if we have to consider how other such apps work, one can assume that it will offer a digital wallet as well. There is likely to be an option for linking bank accounts with the service for instant online payment, money transfer, and payment at checkout terminals. We will be keeping you updated as and when more details will become public.