Apple strikes deal with China’s UnionPay to make app buying easierNovember 17, 2014 - 16:05 AMT PanARMENIAN.Net - Apple has struck a deal with China’s only domestic bank card provider UnionPay, making it easier for Chinese consumers to buy its apps, the Wall Street Journal reports. The iPhone maker has been facing questions of how it will expand into payment systems in China, a major market. Apple’s own payment system Apple Pay is not yet available there. Apple said Monday, Nov 17, that Chinese consumers can now link their Apple ID with a UnionPay debit or credit card for one-tap purchase of apps. UnionPay has a near-monopoly on processing yuan-denominated payments made by bank cards and credit cards, although China last month opened up the sector to other qualified firms. “The ability to buy apps and make purchases using UnionPay cards has been one of the most requested features from our customers in China,” said Eddy Cue, Apple’s senior vice president of Internet Software and Services, in a statement. “China is already our second largest market for app downloads, and now we’re providing users with an incredibly convenient way to purchase their favorite apps with just one-tap.” Absent from the announcement was mention of Apple Pay, the home-grown payment service which Apple launched earlier this year for the U.S. market. Apple Pay lets iPhone users pay at certain stores like McDonald’s and Walgreen by holding their phone near a sensor. According to the Journal, the UnionPay partnership could potentially open the door for Apple Pay in China, if Apple can strike agreements with popular retailers and overcome technical and regulatory hurdles. Another route for Apple is a possible alliance with Alibaba, China’s largest e-commerce company, whose payment affiliate Alipay is the country’s largest mobile payment processor. Alibaba Executive Chairman Jack Ma said last month that the company would be interested in partnering with Apple in payments. Apple Chief Executive Tim Cook had said he would meet with Ma, without specifying the type of partnerships they would discuss. A possible scenario is for Alibaba’s financial affiliate to provide back-end services for Apple’s Apple Pay payment system, Alibaba Executive Vice Chairman Joe Tsai said in an interview earlier this month. That could entail iPhone users in China paying for goods with Apple Pay using money from their Alipay accounts, he said. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Macron says France commemorates 109th anniv. of Armenian genocide Today France commemorates the 109th anniversary of the Armenian genocide of 1915, Macron says. Pashinyan: We must stop searching for homeland, we have found that homeland Prime Minister Nikol Pashinyan has shared a message on the 109th anniversary of the Armenian Genocide. Erdogan wants “realistic road map” for relations with Armenia Turkish President Recep Tayyip Erdogan has called for a “new realistic road map” for relations with Armenia. Armenia-Azerbaijan: Experts launch work on determining coordinates Expert groups from the countries started the process of determining the coordinates based on geodetic measurements. |