Chinese shoppers activated 3m bank cards with Apple Pay within two days of the mobile payment service’s launch, according to China Merchants Bank. “China Merchants Bank says its customers connected 1m bank cards with Apple Pay in the first two days of the launch, representing 35% of cards connected,” Internet Retailer reports. “China UnionPay reported that Apple Pay users spent 101 yuan (US$15.5) on average on the first day of the service and about 47% of purchases were above 10 yuan ($1.5).”
Next: Visit the NFCW Expo to find new suppliers and solutions
Just as the rest of the world led the US in EMV, they are surging ahead in contactless. Contactless will get a boost in the US from the fact that EMV is too slow for high transaction volume low dollar amount applications like fast food.