OnePlus Pay Announcement made on stage during a OnePlus event.

On stage during its India launch event of the OnePlus 7T, OnePlus formally revealed it will launch a mobile payment system called OnePlus Pay at some point in 2020.

The company was very cryptic surrounding details of the new service. Other than the name and the tentative release date of “sometime next year,” the company didn’t divulge any other info.

“And lastly, we have a special announcement to make,” said Szymon Kopec, the head of the Software Product Growth division at OnePlus. “There’s a very fantastic product we’ve been working on for a little over a year now. I couldn’t be more excited to tell you guys that starting sometime next year, you will no longer need your physical wallet as we are announcing OnePlus Pay.”

After Kopec said that, he announced that that was all the news he had on Oxygen OS updates and exited the stage.

Related: Here’s how to update OnePlus software as quickly as possible

Since this announcement happened during the India-centric event for the OnePlus 7T, it’s possible OnePlus Pay will only be available in that country. Mobile payment systems are hugely popular in India — much more so than here in the United States — so a OnePlus-branded payment system focused on India makes a ton of sense.

It’s possible, though, that OnePlus Pay could be a global product, but clearly the company isn’t ready to tell us much about it yet.

What do you think? Would you migrate from your current mobile payment system to OnePlus Pay if it was available in your country? Let us know in the comments.