Apple Pay’s safer mobile payment starts tomorrow
Print Edition
CONSUMERS on the Chinese mainland will be able to use Apple Pay, the wireless payment service for Apple devices, from tomorrow.
Apple Pay offers consumers an easier and safer way of mobile payment through NFC (near-field communications) technology unlike other similar payment services which use bar code scanning.
The NFC technology is available on Apple devices including iPhone, iPad and Apple Watch.
Apple Pay is ready for use on the Chinese mainland from tomorrow, the official WeChat accounts of China Construction Bank and China Guangfa Bank said yesterday.
The service will gradually support 20 Chinese banks including China Merchants Bank and Shanghai Pudong Development Bank, according to Apple China’s website.
Apple and China UnionPay had said Apple Pay would debut in the mainland market at the “beginning of 2016.”
Apple is growing in the Chinese market, its second-biggest regional market globally, by opening more Apple stores, debuting Apple Pay and launching online music services.
The value of mobile payments globally is set to grow from US$450 billion in 2015 to US$620 billion this year, TrendForce, a Taiwan-based research firm, said in a note.
Samsung has agreed with China Unionpay to promote mobile payment in China.
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