Retailing, Franchising, and Consumerism Business Intelligence in China

China UnionPay Gives Chinese iPhone Users New Access To Apple Pay

A new Deal between U.S.-based Apple and China's largest payment card is making mobile transactions easier for Chinese netizens.

Apple announced that its App Store has added China UnionPay as a payment option for users in China. China UnionPay is the most popular payment card in China and will provide App Store customers with a simple and more convenient way to purchase their favorite apps. Customers can easily link their Apple ID with a UnionPay debit or credit card for one-tap purchases.

As a bankcard network, China UnionPay operates China's national inter-bank clearing and settlement system, develops the worldwide UnionPay Card acceptance network, promotes the issuance and usage of the UnionPay Card as well as other innovative payment solutions, so as to provide quality, efficient and safe payment services to cardholders.

To date, the total number of UnionPay Cards issued both at home and abroad has exceeded 4.5 billion. The UnionPay network has been extended to all cities and rural areas in China. In addition, China UnionPay has enabled UnionPay Card acceptance in over 140 countries and regions through extensive cooperation with more than 400 institutions around the world.

Financial terms of the deal were not announced.

Image Credit: Bloomua

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