Apple Pay launches in China

Jason Yu, general manager of Kantar Worldpanel China, said most Apple users in the country are well educated and have a high monthly income.

With the millions of iPhone customers in China, some are reporting that they are unable to register for Apple Pay.

Apple Pay, a mobile payment service that allows users to wave their phones near point-of-sale terminals to complete purchases, became available to iPhone users in China on February 18, Apple chief executive Tim Cook said on Sina Weibo, China’s version of Twitter.

Brands and retailers have been shifting in-store strategies to offer an omnichannel retail experiences for consumers, and a large aspect of the tactic relies on mobile-based payment solutions.

This is probably due to the widespread adoption of NFC payments in China.

McDonald’s said on Thursday that it will accept the contact-less payment in 1,700 restaurants in China.

Apply Pay charges credit card and debit card issuing banks a fee for using its services, ranging from 0.15% of the transaction value or a flat US$0.005 fee.

Apple Pay made its debut in China this Thursday, but things didn’t go quite as smoothly as hoped – largely thanks to the sheer number of users trying to register with the service.

During the first three quarters of 2015, total mobile payment reached RMB84.76 trillion (US$13 trillion), up 466% year-on-year, according to data from the People’s Bank of China.

Look for a guide to setting up Apple Pay in China from the Beijinger soon. The company launched its service in Mainland China yesterday and received an overwhelming response from the people. In addition, competing services such as Alipay subsidize equipment costs for businesses wanting to accept the mobile payment service.