Apple just announced that the Apple Pay will be coming out in China in February 2016.
The Apple Pay is a mobile payment and digital wallet service that lets users make payments using the iPhone 6, iPad, and the Apple Watch. In America, the service gets. 0.15% of all credit-card transactions and 0.5 cents for every debit card purchases. The rate in China has not yet been released.
Apple has said that they have already struck a deal with China’s four major state run banks this week, and that they hope for the service to be launched on February 8th, which is right before their big Spring Festival.
Apple still has hurdles they will need to overcome, mainly revolving around the Chinese government, before Apple Pay can be released. In China, banking and e-commerce are run by numerous government agencies. How Apple plans to deal with the Chinese government is unknown.
This is another example of how Apple is trying to invest more in the Chinese market. Back in September Apple released the iPhone 6 in China the same day they released it in the United States. They also launched the first Apple retail store in Singapore, which is a very common tourist spot for China.