Apple Joins With China's UnionPay to Introduce Mobile Payments
- Clients of 19 Chinese lenders can shop with Apple Pay
- Alipay and Tencent dominate China's online payment market
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Apple Inc. introduced its mobile payments system to China through a partnership with China UnionPay Co. as the iPhone maker teams with the country’s largest clearing network to spur usage.
Customers of 19 lenders, including Industrial & Commercial Bank of China Ltd. and Agricultural Bank of China Ltd., will be able to use Apple Pay through UnionPay’s point-of-sales network across the country, UnionPay said Thursday in a statement. Users can sign up by adding their bank card information into the Wallet application on Apple devices, the Shanghai-based company said.