Smart phone uses in China will finally be able to use WeChat to pay for goods in the Apple App Store and Apple Music store. Hurrah!
It seems the Silicon Valley tech giant has finally admitted defeat when it comes to third-party payment apps.
Last year Apple made a slight concession, allowing users to purchase apps using Alipay, which, according to data from the first quarter of 2017, has a 53.7% market share of China’s mobile payment market.
WeChat Pay meanwhile holds a 39.5% stake while Apple’s own system, Apple Pay, occupies a measly 1%.
The moves extends a recent trend that has seen Apple seemingly keen to curry favor with the Chinese government.
Last month Apple announced plans to build a huge data center in Guangzhou, and also removed dozens of VPNs from its China App Store.
The American company has seen sales drop in China in the face of competition from Android competitors who are selling cheaper smart phones.
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Keywords: WeChat Pay Apple Apple WeChat payments
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More than just an alternative to cards and cash, mobile payment methods are fast becoming a way of life for the Chinese.
The article is totally bias! Tries to show how Tencent's product is a better company than Apple's product, meanwhile without making a fair comparison between the two services. Just because you use some stats does not mean you are driving your point home. How is Apple admitting defeat? Just because their product is slow to takeoff, does not mean they lost the match. By the way, Apple's App Store has long accepted Alipay and other Chinese payment methods (roll my eyes). They just finally came to an agreement with Tencent, that is all. No biggie here - Just business! The real question here is will QR code always be king in China or will users and vendors eventually adopt a touch-and-go approach and built-in security NFC technology? I think this will decide the real winner in the cashless revolution in China. Nonetheless, I think it is great that China has companies such as Alibaba and Tencent that are leading the Chinese consumer and Chinese market into a cashless revolution.
Sep 07, 2017 00:19 Report Abuse
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