Apple Pay, a mobile payment and digital wallet service by Apple Inc., will kick off its services in China from February 18. Not to be outdone, Samsung Pay will also launch its services in China soon after closing negotiations with local partners, portending a big showdown ahead.
According to China.com on February 16, China Construction Bank and China Guangfa Bank announced that they would begin the Apple Pay service from 5 am on the 18th through the official WeChat (Wei Xin) accounts. With this move, Apple Pay will be able to provide mobile payment services in China after the United States, Britain, Australia, and Canada. This is the first such service in Asia.
Apple Inc. will begin the service under agreements with 15 Chinese banks including four state-run banks like Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, and Bank of China Ltd.
Samsung Electronics, the archrival of Apple, is rushing to offer a similar service in partnership with UnionPay, China's largest credit card company. A Samsung Electronics official said, "We are at the final stage of negotiations with UnionPay and other Chinese financial services firms. Samsung Pay will be available very soon in China."
