Apple Pay struggles in China in the face of tough competition

Apple Pay is “struggling” in China due in part to a minority smartphone market share and consumers being “far more accustomed” to competing services such as Alipay and Tencent’s WeChat Pay. “I don’t think Apple Pay can achieve the same market share as Alipay or WeChat Pay in the foreseeable future,” Morningstar Investment Service analyst Marie Sun told Bloomberg. “Personally, I don’t see any benefits to switching myself.” Apple Pay launched in China in February 2016.

  • elevtechlift

    If Apple Pay were to succeed in China, one of the areas Apple should work on is public transport where there are plenty of NFC readers on buses, trains, ferries, etc. This includes Shenzhen Tong, BMAC Yikatong, etc. Also, Apple should partner with mPOS providers in China similar to Square in order for EMV contact and NFC contactless (all standards include Type A, B, and F) to be more readily and affordable to small merchants selling fruits, taxis, etc.