The payment service was revealed alongside the OnePlus 7T smartphone at an event in India on 26 September, and while few details were revealed surrounding what we can expect from the service, the company said we won't need a wallet anymore and OnePlus Pay will arrive next year - 2020.
It also said it had been working on the service for some time, though at the moment, we don't know what banks and services will be compatible, or which countries the service will launch in. We also don't know when in 2020 the payment option will arrive.
OnePlus isn't the first smartphone manufacturer to offer a mobile payment service. Samsung offers Samsung Pay, Apple offers Apple Pay and Google offers Google Pay - the latter of which is available on most Android smartphones. There are also payment services from the likes of Fitbit and Garmin too, for payment from fitness devices.
The biggest challenge OnePlus will have when it comes to its OnePlus Pay service is ensuring there are enough supported banks to make it worthwhile to use over Google Pay, for example. Both Google Pay and Apple Pay have a huge list of supported banks, making both services easy for consumers to use. Will OnePlus be able to get enough banks and services on board?
We will keep you posted on any extra information we learn about the OnePlus Pay service. We wouldn't be surprised to see it announced officially with the OnePlus 8 around May 2020 though, so we might have to wait a few more months to find out any more details.