Apple signed an agreement with UnionPay to launch Apple Pay in China

Moscow. December 18. Apple has agreements with China’s largest payment and settlement system of UnionPay, as well as 15 Chinese banks as part of its planned launch in China, the electronic payment system Apple Pay, writes the Financial Times.

The agreement with UnionPay will provide Apple access to 5 billion plastic cards taken, both in China and in more than 150 countries of the world. Among the banks supporting Apple Pay, – Agricultural Bank of China, Bank of China, China Construction Bank and ICBC.

Apple hopes that UnionPay customers can attach their cards to the Apple Pay system “at the beginning of 2016 after conducting the necessary tests and certification, required by Chinese regulators”.

Apple didn’t get approval from China regulators to run the payment system in mainland China.

“The Chinese market is crucial for Apple, and with the support of UnionPay, and 15 largest banks in China users will soon have a convenient and secure platform for mobile payments,” said senior Vice President of Internet services, and Apple’s eddy cue.

Apple Pay was launched in the US in October 2014 after the market iPhone 6. This year this system was launched in the UK, Canada and Australia, in 2016, Apple plans to launch it in Spain. Singapore and Hong Kong.

According to the Agency Bloomberg, the South Korean Samsung Electronics also entered into an agreement with UnionPay and plans to introduce its own electronic payments system in China next year.