The company has inked deals with China's four largest state-run banks, suggesting that Apple Pay users can hook up the mobile payments service to their local bank accounts.
It is unclear what cut Apple will get for the service in China. In the U.S., it gets 0.15% of all credit card transactions and 0.5 cents per debit card transaction. When those numbers are extrapolated to millions or billions of transactions in China, the revenue could become significant.
Apple pay works for the iPhone 6 and 6S using NFC tech and has been very popular in the U.S. since launch.
Written by: Andre Yoskowitz @ 24 Nov 2015 21:59