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Apple partners with UnionPay to bring Apple Pay to China in early 2016
Apple has announced that its mobile payment system, Apple Pay is launching in China. In an announcement December 18, the company said that it has partnered with Chinese bankcard processor UnionPay to bring its mobile payments system to the region.
Rumors about Apple Pay in China have been circulating for a while, with Apple CEO Tim Cook saying back in May that the company hoped to launch the service in China soon. The company has done it and the Apple Pay service is due to launch in China early next year.
According to Apple, China UnionPay customers will be able to add their bank details to Apple Pay on iPhone, Apple Watch and iPad to cater for online and in-store purchases. UnionPay, which operates the nation’s inter-bank clearing and settlement system, has issued over 5 billion UnionPay Cards to customers in China and abroad. Over 150 countries accept the UnionPay Cards and their customers can use them in more than 26 million merchants and 1.9 million ATMs.
“China UnionPay is dedicated to promoting payment innovations and providing secure, convenient mobile payment experiences for its hundreds of millions of cardholders, aligning multiple parties in the industry,” said Chai Hongfeng, executive vice president of China UnionPay. “We’re very excited to offer Apple Pay among a diverse set of innovative payment options that work with China UnionPay QuickPass.”
Last week, UnionPay debuted its own touchless payments system with the launch of QuickPass that supports NFC-equipped smart devices.
Apple Pay in China will work in the same way as the versions in the U.S., the U.K., Canada and Australia.
“Apple Pay has revolutionized the way millions of people pay every day with their iPhone, Apple Watch and iPad,” said Eddy Cue, Apple’s SVP of Internet Software and Services. “China is an extremely important market for Apple and with China UnionPay and support from 15 of China’s leading banks; users will soon have a convenient, private and secure payment experience.”
Apple Pay will roll out in China as soon as early 2016, once Apple acquires the requisite certifications required by Chinese regulators. Apple has confirmed that the service is compliant with China’s national mobile payment and financial industry standards.
Image credit: Richard Bao, Flickr
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