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Apple Pay primed for China launch

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Apple Pay primed for China launch

Apple is said to be readying its mobile payment system for launch in China. That’s according to a Wall Street Journal report, which claims that Apple Pay will be heading to the vast Chinese market sooner than first thought.

Word is that Apple registered a payment business in the dedicated free trade zone in Shanghai in June.

Now sources reckon that this was meant solely for bringing the popular service to a territory where Apple is experiencing rapid and sustained growth.

At the moment, Apple Pay is only available in the US and the UK. On these shores, some banks are still not on board, with Barclays the biggest omission. It’s set to join the party later in the year.

A launch in China would make the iPhone even more attractive to high–end consumers.

Currently, the country does not have a comparable secure mobile payment system, which could be a major opportunity for Apple in bigger cities where the middle class is growing fast.

Apple Pay’s upper limit per transaction was recently raised to £30 in the UK, thanks to changes in how much existing contactless payment terminals can accept.

New machines should mean most stores will be able to accept higher payments over the next year.

Source:

WSJ

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