Apple is known to have quite a few competitors in the tech industry, most notably, Microsoft, Google, and IBM. Now it appears they have a new rival in the giant retail corporation, Wal-mart.
Apple CEO Tim Cook told the official Xinhua news agency in an interview on Tuesday that he is very bullish on Apple Pay in China. The payment service was introduced in the US last September and, according to Apple, quickly began handling more transactions than all other contactless payment methods combined. In the interview, Cook said he believes the payment service could take off even faster in China.
Two months after its launch, Apple Pay has won over more banks while still seeking more success when it comes to retailers. Apple announced that they have reached agreements with ten more banks, and they now support cards that represent 90% of credit card transactions in the United States. Card issuers Barclaycard, SunTrust, and USAA are a few that joined the growing group of Apple Pay partners.