Chinese smartphone maker, OnePlus, is reportedly working towards bringing its own digital payment service to India. The company has also trademarked OnePlus Pay, which will be a direct contender to other online wallet services like Google Pay and Paytm.

According to some media reports, the information on the trademark was shared by a leaker on Twitter. As per the tweet, the Chinese tech giant is planning to launch its in-house payment platform in the country soon, although it is still unknown exactly when the service will be available.

The company had first announced that it is working on a payment service platform back in 2019. The service works with the pre-loaded wallet app, and users would have to set the OnePlus Pay as the default NFC based app.

As per the report, to use the NFC based system, users can double press the power button to quickly access the digital wallet, which can be linked to the users’ debit cards. In India, the company is likely aiming to partner with Indian banks or international payment gateways like Mastercard or Visa that are widely popular in the region. Similarly, it might also choose to bring support for RuPay credit and debit cards as well for its Indian customers.

With the launch of OnePlus Pay, the company will also join the list of smartphone manufacturers that have announced their own mobile payment services. But having said that, it is quite certain that the company will face competition from third-party payment apps like Google Pay and Paytm that are based around the UPI system in India.