Report: UnionPay and Apple make deal for Apple Pay in China

Report: UnionPay and Apple make deal for Apple Pay in China
According to a new report, China UnionPay and Apple have reached an agreement to bring Apple Pay to China through UnionPay's POS network.

The agreement will be finalized if card-issuing banks agree to the deal.



UnionPay is the nation's largest clearing network and payment processor, and they reportedly hope to introduce Apple Pay next year.

China is a massive market. Mobile-payment transactions jumped 134 percent last year to 22.6 trillion yuan ($3.5 trillion).

Source:
BBG


Written by: Andre Yoskowitz @ 26 Nov 2015 12:15
Tags
Mobile Payments Apple Pay
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