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Apple Pay arrives in China supporting 80% of local debit / credit cards

It was already known that the Apple Pay would arrive China in early 2016, but the exact date was still unknown. Today, however, the company has confirmed that its mobile payment system is in fact being launched by tomorrow morning (Thursday, 2/18).

Apple Pay in China

In an article on its developer website, Ma said that all interested parties can now support Apple Pay in their applications in China, providing an easy, secure and private way for users to pay using their credit and debit cards.

In an interview with ReutersJennifer Bailey (vice president of Apple Pay) said she believed China would be the biggest service market for Apple. Right now, the mobile payment system has 19 of the country's largest creditors as partners, which means that it supports 80% of the debit / credit cards issued in China. Still according to Bailey, users will be able to pay for their purchases with Apple Pay in one third of the establishments that accept such cards, the trend is that, over time, this number will increase substantially.

However, Apple will have fierce competition ahead, as the Chinese market is dominated by local mobile payment solutions like Alipay, which has 400 million active users and 80% of the mobile market.

(via AppleInsider)

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