The race between Apple and Samsung in launching their respective mobile payment service is on.
According to The Wall Street Journal, people familiar with the matter claim that Apple will be launching Apple Pay in China by early February next year. Apple reportedly has signed deals with China’s big four state-run banks, which will allow Apple users to link the mobile payment service to their local bank accounts. Regulatory hurdles in the Chinese banking and e-commerce sectors may ultimately delay the launch before Chinese New Year 2016.
SamMobile reported last week that Samsung is planning to launch its mobile payment service, Samsung Pay in the UK, Spain and China by Q1 2016. As the Chinese market is the biggest in the world, having a head start is critical for both companies.