Apple to launch online payment in China
An Apple Company offering online payment has launched in the Shanghai Free Trade Zone, an area set up as a testbed for financial reforms, China News Service reported late on Thursday.
Apple didn’t give a date for the launch, but the company told AFP chief executive, Tim Cook, hopes to set-up Apple Pay in China “as quickly as possible”.
Cook previously said 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 per cent of the market.
Internet firm Tencent is also catching up with a similar service provided via its popular messaging application WeChat.
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