Apple Pay to reach China in February 2016

11/24/2015 Ahsan Zafar , Apple , Apple Pay , China 0 Comments

Apple will debut Apple Pay in China by Chinese Spring Festival Holiday on 8 February 2016, which is Chinese New Year.

According to the report, Apple has recently dealt with China's big four state-run banks to launch Apple Pay in the country, but the company could still see regulatory obstacles in China. China's bug four state-run banks include the Bank of China, China Construction Bank, Industrial and Commercial Bank of China and Agricultural Bank of China.

China already has electronic payment platforms that include Alipay the service from Alibaba and Tenpay which are the largest two E-Payment systems in the country.

Apple is already making more business from China Than any other market. China's market is about to overtake the United States.

Apple has launched the Payment service in Australia and Canada in the previous week with the exclusive support of American Express. Apple Pay will reach Hong Kong, Singapore and Spain in 2016. Apple is determined to make Apple Pay a international Payment service.

China was rumored for the launch of Apple Pay even before launch in the United Kingdom. Tim Cook has said words like "very bullish" for launching Apple Pay in China.

Source:WSJ