Apple Launches Apple Pay in China
Consumers in China have yet another electronic payment option, as Apple's Apple Pay launched earlier this week, with 7-Eleven as a participating retailer.
Apple is teaming up with China UnionPay for Apple Pay here. Based on iPhones, iPads, and Apple Watches, Apple Pay is linked to a bank card and activates when a payment processor is nearby and a transaction is desired, using near-field communication. The user then types in a PIN or uses a fingerprint to authorize payment. However, unlike the system of the same name in the US, transactions still require the customer to sign a receipt, making it slightly less swift to use than WeChat Wallet or Alipay.
And unlike the China payment options, such as Alipay or WeChat, Apple Pay at present facilitate person-to-person transactions, like money transfers.
Look for a guide to setting up Apple Pay in China from the Beijinger soon.
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