Apple Pay set for February launch in China

Apple's mobile payment service - Apple Pay - will arrive in China in February 2016, according to a latest report by the Wall Street Journal. Specifically, Apple is planning to launch the service in time for the country's Spring Festival holiday on February 8.



The Cupertino-based company has already signed deals with China's four main state-run banks that will enable users in the country to link their bank accounts with the mobile payments service when it arrives.

However, despite the deals, the iPhone-maker could still face regulatory issues, the report warns. In addition, there'll also be stiff competition in the market, with state-run China UnionPay already monopolizing credit and debit card payment processing, and Alipay and WeChat enjoying huge share in electronic payments space.

Apple Pay is currently available in four countries, including the US, UK, Canada, and...

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