Has China’s mPayment Saturation Actually Helped Apple Pay?

Apple Pay has decisively beaten naysayers’ expectations with its launch in China. According to new reports, the mPayment platform saw three million payment cards loaded within the first two days after its debut on February 18th.

Has China's mPayment Saturation Actually Helped Apple Pay?Speaking to the media in China, Apple Pay head Jennifer Bailey said she “would rate our first-day performance as 1,000, if the full score is 100.” In its first day of service, users spent a little over $15, which Business Insider notes is an indication that consumers are adopting it for everyday purchases, suggesting potential long-term, habitual use to come. AppleInsider reports that top merchants in these first days of service were the Groupon-like retailers Dianping and Meituan, as well as Starbucks, McDonald’s, and FamilyMart convenience stores.

Prior to Apple Pay’s China launch, some analysts predicted a difficult climb for the mPayment platform, given that the China market is already saturated with domestic mPayment options like Alipay and WeChat Payment. Now it appears that saturation may have actually worked to Apple Pay’s benefit, with masses of Chinese consumers who already love Apple’s iPhones also being very familiar with the concept and practice of making payments with their phones.

The success could also be a good sign for Apple Pay’s rival Samsung Pay, which will also soon launch in the country.

Sources: Business Insider, AppleInsider