China, here I’m coming! Apple has announced that it will launch its payment system – Apple Pay in China in early 2016. The company has associated with Chinese bankcard network UnionPay to introduce the payment system. The UnionPay is similar to Visa in China, which lets iPhone users to link their bank accounts to their Apple products. The initiative is supported by 15 leading banks in China.
In China, the payment system will be launched at first with support for Apple watch and then later extending support to other Apple devices. The customer’s account details will be neither stored on devices nor Apple’s servers. It seems Apple is awaiting for the approval from China government, but Apple’s press release states that launch will happen in January 2016.
Meanwhile, Samsung has made some business deals with UnionPay and its payment system.