Apple Pay finally arrives on the huge Chinese market at the end of this week, after officials of commercial and financial institution from this country have announced it on the social networks. The cellular payment support will be released for its clients on Feb 19, according to the mass media.
The Chinese edition of Apple Pay’s web page still details the support as “arriving soon”, however it does specify the name of several Chinese financial institutions.
While the idea of payment for products or services with mobile phones has been going around for a long time, Apple Pay sparked the customer interest a couple of years ago, in a similar way to Samsung and Google’s paying services. Creditors created their own form of the service and even major suppliers like Walmart join the new tech services.
Apple’s system has been implemented in the United States, Canada, Australia and United Kingdom. To get more efficiency and reliability, though, the platform needs to further extend its features. Chinese clients are an important segment for mobile expenses as they form the world’s biggest smart phone marketplace.
Apple Pay encounters at least some important difficulties to get a grip in the huge Asian country, since spending money for items through a mobile device is already common use for many suppliers and customers.
These payments are made mostly via two of China’s online companies: Alibaba Group and Tencent Holdings. In 2015, more than 350 million Chinese clients have spent money on products via their mobile phones, mass media said, stating information from the country’s authorities responsible for the online domain.
The organization has been competitive in developing the right conditions in China’s marketplaces. Apple presented in Dec its collaboration with UnionPay, which holds the control on the Chinese debit and credit bankcard handling industry.
So far, several major lenders are known as official Apple Pay associates, according to sources, and a couple others will join it at the formal release of this week. The Chinese market is the US company’s second biggest smart phone industry when it comes to income, only behind North America.
Last year, the smart phone sales in this area exceeded $10 billion, an absolute record for China. That accumulates many possible iPhone users who might be convinced to try the mobile payment service.
Image source: Techhive
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