Apple and Samsung are all geared up to bring their mobile payment service in China. Both the companies have inked a deal with China’s UnionPay to launch a their respective mobile payment systems in China in 2016.
As a result of the partnership UnionPay cardholders will be able to manage and use credit cards and debit cards on the smartphones via Samsung Pay. While in case of Apple, UnionPay cardholders will be able to easily add their bank cards to Apple Pay on iPhone, Apple Watch and iPad. Both Samsung and Apple Pay will receive relevant tests and certification as required by Chinese regulators before its official rollout to UnionPay cardholders in China as soon as early 2016.
“China is an extremely important market for Apple and with China UnionPay and support from 15 of China’s leading banks, users will soon have a convenient, private and secure payment experience.
said Eddy Cue, Apple’s senior vice president of Internet Software and Services.
“The collaboration with China UnionPay, coupled with the support from major UnionPay partner banks in China, will bring this secure and easy-to-use mobile payment solution to more Samsung mobile users.”
said Injong Rhee, Executive Vice President at Samsung Electronics.
Apple launched Apple Pay last year while Samsung Pay was unveiled this year in August. As the largest smartphone market in the world, China represents a significant business opportunity for mobile-payments systems.