Tech giant Apple has launched its mobile payments service Apple Pay in China in alliance with China UnionPay, state-owned bankcard association.
Announcing the launch on its website, Apple noted that apps and goods in the country can now accept the Apple Pay payments service using supported credit and debit cards.
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Apple Pay lets users make payments using an iPhone 6 or 6Plus, Apple Watch, iPad Air 2 or iPad Mini 3. It does not require Apple Pay-specific contactless payment terminals, and can work with existing contactless terminals.
The customer is required to tap their Apple device onto the retailer’s contactless payment machine, then insert their fingerprint into the handset’s screen. This confirms identity and allows the payment to proceed.
Apple Pay is currently available in only a handful of other countries including the US, Britain, Canada and Australia.
But unlike majority of other countries, Chine mobile payment market is already very crowded. Social networking and gaming firm Tencent operates WeChat Payment, and e-commerce firm Alibaba runs Alipay through its Internet finance affiliate Ant Financial Services Group.
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By GlobalData
