Apple launches China payments service in crowded market

19 Feb, 2016

Apple on Thursday launched its mobile payment service Apple Pay in China, pitting the US technology giant against strong domestic rivals in a large but already crowded market. Success in the world's second-largest economy is crucial for the California-based firm. Apple Pay is available in only a few other countries including the United States, Britain, Canada and Australia.
But unlike most other countries, mobile payment systems are already well-established in China and Apple does not have a first-mover advantage. "Can't wait for you to try it and see how incredibly easy it is to use!" Apple chief executive Tim Cook said of the service on a verified China microblog.
Some users complained of difficulties linking their bank cards, the key step to using the payment service, apparently because people rushed to sign up. "Apple Pay, I have already waited a long time for you in vain. But your back-end technology basically cannot survive in this hot spot China," said one in a microblog posting under the name Erzi Wangpeng. China had 359 million online payment users in mid-2015, up almost 18 percent in six months, according to the state-backed China Internet Network Information Center (CNNIC).

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