Apple Pay China Launch a Success: 3 Million Cards in 2 Days
A few weeks ago, Apple launched its mobile payment solution “Apple Pay” in China. The new market is doing great in terms of the adoption rate among users. A Chinese bank reported that roughly 3 million cards were registered with the service within the first two days after the launch.
Chinese customers appear to flock to Apple Pay in masses. The China Merchants Bank – one of the biggest banks of the country – reported that the launch on 18th of February and the following day saw roughly 3 million clients adding their payment information to Apple Pay. Stores such as Starbucks, McDonald’s, Dianping, Meituan and Family Mart benefited most from the introduction of the new payment service.
According to AppleInsider, Chinese Apple Pay users have only spent around USD 15 on average. One of the online merchants accepting the new payment service registered more than 10.000 orders. Almost 20 of the banks that represent 80 percent of the UnionPay market in China support the novel contactless payment method.
Apple is pretty happy about those numbers. Jennifer Bailey, head of Apple Pay, commented on Internet Retailer: “I would rate our first-day performance as 1,000, if the full score is 100”. The race for market share in the contactless payment sector is far from over, Apple will have to compete with products such as Alipay and WeChat payment, which stand for already strongly established brands in the region. The newest results are however cause for optimism and the support of the banking sector is certainly present.