Apple to Push the Use of Apple Pay in China
Apple is in talks with several Chinese banks and with Alibaba Group Holdings for launching the firm’s mobile payment system in China. According to Apple’s Chief Executive Tim Cook that the company wants to get Apple Pay into China but could be reached for any comments in the said report
Apple Pay is an application that allows consumers using Apple devices to purchase goods by just holding the device to readers installed in stores. The mode of payment was recently launched in the United States and is quickly to handle more transactions that any other contactless payment method or schemes. Meanwhile executive chairman Jack Ma said in October that Alibaba is open to working with Apple to develop Apple. Alibaba is already operating one of China’s largest payment service the Alipay.
Analysts are expecting China to take over America to become Apple’s biggest market. During the first quarter of the year Apple was able to sell more iPhones in China compared to the United States. Apple is planning to add more stores in China as it is aiming to have around 40 stores by next year.