Apple Pay Support Grows in US and China

Apple Pay has further extended its roster of US financial institution supporters, and has also gained the support of three Chinese banks.

The latter point is likely the more important one for Apple Pay right now. The mPayment platform recently launched in China, and while there had been concerns about its viability in that market, it has proven to be a resounding success. As AppleInsider notes, the new Chinese bank supporters – China Everbright Bank, Huaxia Bank, and Ping An Bank – had all been announced as partners at the platform’s launch in the country, but their support has only just gone live.

Of course, at its launch Apple Pay already had the most crucial supporters in line – China UnionPay, the country’s only card issuer, and also Industrial and Commercial Bank of China, the biggest bank in the world. But every bit of additional support helps, and that remains true in the US, where Apple Pay recently attained the support of Ally Bank and a number of local and regional institutions.

Meanwhile, Apple Pay’s biggest rival, Samsung Pay is expected to make its own China debut imminently, though of course Apple Pay now has a head start in its base of supporters.

Source: AppleInsider