Citing sources, Dow Jones reports that Apple plans to bring Apple Pay to China by February next year. Tim Cook, Apple’s CEO, has clearly stated before that bringing Apple Pay to China is among the top priorities for the company.
China is already a bigger market for Apple than Europe, and is on its way to surpass the United States soon as well. So, its not a surprise that Apple is trying really hard to bring Apple Pay to China since its large user base will help in greatly increasing the popularity of Apple Pay among consumers.
BREAKING: Apple plans to bring Apple Pay to China by February – Dow Jones, citing sources
— CNBC Now (@CNBCnow) November 24, 2015
Apple has been in talks with local Chinese banks to bring Apple Pay since early this year, but the Chinese government regulations and a disagreement between Apple and banks on the share of commission on every Apple Pay transaction had stalled the launch of the mobile payment service.
Samsung is also reported to launch its mobile payment service, Samsung Pay, in China early next year. Right now, Alipay is the most popular mobile payment service in China, which is backed by Alibaba.
Since its launch in October 2014 in the United States, Apple has expanded Apple Pay to the United Kingdom and more recently to Canada and Australia.