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Apple Pay will begin its most important expansion ever next year

While mobile payment services are only just now starting to become popular in the United States, they’ve been wildly popular in Asia for a while. That’s why it’s such a big deal that Apple Pay will be launching in China next year, because even though it’s partnered with several Chinese companies for the launch, Apple’s expansion into China’s mobile payments market probably won’t be nearly as successful as its expansion into the smartphone market. This is because Chinese companies have been spreading their own mobile payments services within the country for a long time, and many people won’t be interested in switching over to Apple Pay.

Early next year, Apple is bringing Apple Pay to China, which means the mobile payment service is poised to take off in a big, big way. Apple is partnering with payment network China UnionPay and 15 Chinese banks so customers there can add their cards to Apple Pay. The rollout is subject to approval by Chinese regulators, so there’s no firm launch date, but Apple will be testing the service over the next few months. “Apple Pay has revolutionized the way millions of people pay every day with their iPhone, Apple Watch and iPad,” Eddy Cue, Apple’s senior vice president software and services, said in a statement on Thursday. “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.” Apple has slowly been expanding Apple Pay’s availability since its launch in the States last October, and iPhone, Apple Watch, and iPad owners can now use the service in Canada, the United Kingdom, and Australia. Singapore, Spain, and Hong Kong are up next, with launches planned for sometime next year.

 

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