Apple to launch online payment in China: report
An Apple company offering online payment has launched in the Shanghai Free Trade Zone (FTZ), an area set up as a testbed for financial reforms, China News Service reported late Thursday.
Apple didn't give a date for the launch, but the company told AFP that CEO Tim Cook hopes to set-up Apple Pay in China "as quickly as possible".
Cook previously said that he expects China one day to surpass the United States to become Apple's largest market. But China's e-commerce giant Alibaba dominates the country's online payment sector, with the Paypal-like Alipay taking around 80 percent of the market.
Internet firm Tencent is also catching up with a similar service provided via its popular messaging application WeChat.
Source: I-Net Bridge
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