“Apple Inc. seeks by early February to launch its new Apple Pay electronic-payment service in China — a vibrant but fiercely competitive market for digital money — according to people familiar with its discussions,” Yang Jie and Lingling Wei report for The Wall Street Journal.
“The Cupertino, Calif., company has struck deals recently with China’s big four state-run banks, the people said, by which potential Apple Pay users could link the service with their local bank accounts,” Jie and Wei report. “Apple Pay could still face regulatory hurdles in China, where banking and e-commerce are overseen by a number of government agencies, the people said.”
Jie and Wei report, “Apple hopes to launch before February 8, China’s Spring Festival holiday.”
Read more in the full article here.
MacDailyNews Take: It’d be tough to overstate the importance of bringing Apple pay to China. Hopefully, the approvals processes with regulators go smoothly and Apple Pay gets up and running in just over two months time!
Apple starts Shanghai tech service company to bring Apple Pay to China – September 17, 2015
Tim Cook: Apple Pay in China ‘soon’ – May 19, 2015
Apple Pay’s China rollout reportedly stalled – February 17, 2015