Apple is not satisfied with the results of Apple Pay in China
31.03.2017 0 Comments
A year ago, Apple launched a proprietary payment system Apple Pay in China. However, the expected success and spread of service not yet received.
For the first day after the launch of Apple Pay to the system was added more than 30 million Bank cards, but in the end, however, the Chinese were never able to abandon solutions local companies such as Alibaba and Tencent. According to market research company Analysys, in the last quarter Alipay from Alibaba and Tenpay from Tencent occupied respectively 50,42% 38,12% of the mobile payments market in China. In this ranking Apple Pay was not even in the top ten.
One of the reasons for the failure of Apple Pay is that in China the huge popularity of payment using QR codes. Technically, the NFC technology used for payment through Apple Pay has several advantages compared to QR, including, first and foremost, in terms of security, but the latter entered the market much earlier and became the de facto industry standard. Even the national payment system of China UnionPay, which has supported Apple Pay, Xiaomi Mi, Huawei Pay and Pay in the advancement of NFC, at the end of last year launched its own solution for payment via QR codes.
Another reason for the popularity of Alipay and Tenpay in China is cross-platform. While Apple Pay is only available on Apple devices, Alipay and Tenpay can be used on both the iPhone and Android devices.
Well, the third reason is that in China you can find a huge number of shops, restaurants and other establishments, where we support payment via Alipay and Tenpay, in addition, payments can get and private sellers, without any terminal, simply by using your mobile phone. But to find a place that accepts Apple Pay is much harder.