APPLEPAY LAUNCHED IN CHINA

Updated: 02/18/2016 14:17
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applepay launched in china
ApplePay enters Chinese market on February 18, ready to compete with the extraweights such as AliPay Alibaba and WeChat. NFC technology as the advantage
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ApplePay enters Chinese market on February 18, ready to compete with the extraweights such as AliPay Alibaba and WeChat. NFC technology as the advantage

Today the ApplePay payment gateway is launched in China. What is interesting, the popular in China messenger with the option of money transfers WeChat was also launched on February 18 several years ago. All details of the payment service launch were uploaded to the China segment of the Apple official website.

ApplePay cooperates with UnionPay, which is the dominant payment network in China. There three companies, which are more popular are Visa, MasterCard and American Express. In China as well as in other countries Apple cooperates with 19 major local banks.

In fact it is the third major market, Apple is entering with ApplePay service after the USA and Canada. Here it's worth noticing, the reach of the payment solution in such countries as Canada, Australia, Hong Kong, Singapore and Spain is only restricted to using American Express payment cards support. It's been caused with the difficulties in signing partner agreements with local banks.

However, the launch in China outstands with massive infrastructural partnership arrangement with the leading financial institutions of the country. And that is obviously the most significant milestone for Apple, for the Chinese market is considered to be one of the largest sales market for the Apple products.

Apple will have to compete with such extraweights as AliPay Alibaba and WeChat. These two services are not using the NFC technology as a background, however when it comes to payments their mobility and putting aside from the technical side of the issue is not less than the one of AppePay. AliPay is a convenient system for online payments, as for WeChat it possesses large payment functionality: taxi, cinema tickets, flowers, food etc.

At the moment ApplePay is getting ready to enter the French market as the next step of development.


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