Apple Pay will launch in China early subsequent yr, says WSJ
Apple’s newest iPhones have been a raging success in China, so the shortage of Apple Pay within the nation has been a sore level. That is about to vary quickly, nevertheless, as Apple will convey Pay to China by early February 2016, in line with the WSJ. Its sources say it has made offers with the corporate’s 4 state banks, which means most shoppers will have the ability to pay at shops with an NFC-outfitted iPhone 6 or 6s mannequin. The deal is reportedly now simply awaiting regulatory approval, and Apple is hoping to launch it earlier than February eighth when China’s spring holidays start.
China’s cost card market is not precisely straightforward to interrupt into. Visa and Mastercard have been shut out till just lately, however have been lastly granted approval to hunt licenses earlier this yr. As an alternative, the market is dominated by state-run transaction processor UnionPay, together with China’s Alibaba and Tencent. Apple has by no means revealed precisely how a lot it makes from Pay, although it is rumored to take a zero.15 % reduce of bank card transactions. For the primary time earlier this yr, Apple bought extra iPhones in China than within the US, so the nation is a linchpin to the general success of Apple Pay.