Apple has reportedly set up a new company called Apple Technology Services (Shanghai) to bring Apple Pay to China. The company “will launch new major commercial activities — Apple payment services, including adding a new mobile payment feature on Apple’s iPhone and other end products,” Yicai reports. Apple told Agence France-Presse this week that CEO Tim Cook hopes to launch Apple Pay in the country “as quickly as possible”.
Apple will launch an online payment service in China, media said, as the tech giant seeks to expand in its largest market outside of the US despite fierce competition from local rivals. An Apple Company offering online payment has launched in the Shanghai Free Trade Zone (FTZ), an area set up as a testbed for financial reforms, China News Service reported late Thursday.
Apple didn’t give a date for the launch, but the company told AFP that CEO Tim Cook hopes to set-up Apple Pay in China „as quickly as possible”.
Cook previously said that he expects China one day to surpass the United States to become Apple’s largest market.
But China’s e-commerce giant Alibaba dominates the country’s online payment sector, with the Paypal-like Alipay taking around 80 percent of the market. Internet firm Tencent is also catching up with a similar service provided via its popular messaging application WeChat.t
„Tendinţele pe care le-am remarcat înainte de începerea pandemiei s-au accelerat pe perioada stării de urgenţă. Am văzut acest lucru ca o oportunitate, un tipping point pentru bancă. Post-pandemie nu avem cum sa ne întoarcem la comportamentul financiar pe care îl aveam până în februarie a.c. Relaţia românilor cu online-ul s-a schimbat. In plus, cardul fizic se va dematerializa. Vom asista la o scădere a cererii pentru cardurile fizice, respectiv la o creştere a preferinţei pentru componenta digitală a acestora.”