Apple planning Apple Pay move into China?
Apple in June registered itself as a payments business in Shanghai's free trade zone.
Apple is laying the groundwork to introduce Apple Pay in China, according to reports from a state-backed newspaper and the Wall Street Journal.
The Wenhui news reported that Apple in June registered itself as a payments business in Shanghai's free trade zone, which is intended to boost private investment, competition and economic growth in China. The Wall Street Journal wrote that the sole reason for Apple filing the paperwork is to introduce Apple Pay.
Apple will face some stiff competition in the country should it introduce Apple Pay.
Both Alipay and Tencent's WeChat have millions of Chinese consumers using their services for mobile payments.