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Apple officially launched Apple Pay in China

18 February, Apple launched in China’s own payment system Apple Pay. The service allows users iPhone, iPad, and Apple Watch to make purchases electronically has become available for cardholders of the Chinese national payment system UnionPay.

Apple Pay now available to clients of the 19 largest banks in the country that will be able to use gadgets when you pay in all retail outlets accepting for payment Bank cards of UnionPay, China. To use the phone as a means of payment, users need to add the number of your cards in the Wallet app.

Outlets that will use Apple Pay, include, in particular, the chain of supermarkets Carrefour, fast food restaurants McDonald’s and KFC and 7-Eleven stores.

“Given the impossibility in the framework of the Chinese policy to obtain your own license payment system, Apple Pay best way to get into the market of payment systems in China the cooperation with Unionpay. In turn, Unionpay leadership position in offline payments gradually loses its appeal, and the partnership with Apple Pay could help them to modernize their technologies and to win the position”, — the analyst of Huatai Securities Co Luo Yi.

Alliance Apple Pay, Union Pay will compete in the local market with Samsung Pay previously established, affiliated with the payment system Alipay, the Chinese holding company Alibaba. According to the results of III quarter of 2015, the payment system Alipay and Tenpay with Chinese Internet provider Tencent controlled 68% of the Chinese online payments market, according to research company iResearch. The share of UnionPay accounted for 11% of the market of online payments.

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Payment system Apple launched in the U.S. in October 2014. At the moment it is already present in the UK, Canada and Australia.

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