|
The
technology giant had previously said the system would launch in
China in early 2016, making it Apple Pay's fifth country as it
accelerates development of a planned new revenue stream. ICBC is
China's biggest lender by assets.
An Apple spokeswoman declined to comment on ICBC's posts on the
projected launch. The lender is set to be joined by a raft of
peers: Apple's China website lists 19 Chinese lenders as
official Apple Pay partners, and state media reported two other
lenders will also go live with the service from Feb. 18.
Greater China is Apple's second-largest market by revenue, but
the company faces an uphill battle to match that prowess quickly
in mobile payments.
Apple Pay's beginnings have been less than auspicious in other
markets, including scepticism from retailers in its home market.
But in China, Apple Pay's issue will be how to compete with
dominant and entrenched players, serving shoppers well used to
paying for goods and services with their handsets.
China is the world's biggest smartphone market. By the end of
2015, 358 million people, more than the population of the United
States, had already taken to paying by mobile phone, according
to the China Internet Network Information Center.
Dominating those payments are China's two biggest Internet
companies: social networking and gaming firm Tencent Holdings
Ltd and e-commerce company Alibaba Group Holding Ltd,
through its Internet finance affiliate Ant Financial Services
Group.
Tencent operates WeChat Payment, while Ant Financial runs Alipay.
Apple Pay has also struggled to gain traction with banks in some
countries. In Australia, the four main banks are holding out
against the new entrant. The company in Britain faced resistance
from big banks over fees before relenting.
Earlier on Tuesday, China's state radio reported on its website
that China Guangfa Bank Co Ltd [GDDVB.UL] and China Construction
Bank Corp said on social media they would also launch Apple Pay
on Feb. 18.
A China Construction Bank spokesman declined to comment, while
Guangfa could not be reached for comment.
(Editing by Miral Fahmy and Kenneth Maxwell)
[© 2016 Thomson Reuters. All rights
reserved.] Copyright 2016 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed. |
|
