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
More than just an alternative to cards and cash, mobile payment methods are fast becoming a way of life for the Chinese.
China’s Cyberspace Administration said it has put Weibo, WeChat and Baidu under investigation for allowing users to spread obscenities, rumors and terror-related material.
According to a recent report of broadband internet speeds across 189 different countries, China stands at an embarrassing 134th place, right between Iran and Mauritania.
Over 30 percent of Chinese internet users believe that China will completely transform into to a cashless society in the next 10 years, according to a report released by the market research firm YouGov earlier this month.
Apple has pulled as many as 60 Virtual Private Network (VPN) providers from its China App Store, making free internet access harder for Chinese citizens.
Part of an effort to attract more foreign talent, Chongqing creates new policy for gaining permanent residence in the city.
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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