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UnionPay & Apple have Reportedly Reached a Preliminary Agreement on Apple Pay for 2016

10.6. NEWS - RUMOR


Yesterday we posted a report titled "Apple hoping to have Apple Pay Kick Start in China in Q1 2016," wherein the Wall Street Journal had claimed that Apple had reportedly struck deals with China's big four state-run banks. The process has taken some time as we noted back in a February. Apple was working with UnionPay and Chinese Authorities to get Apple in line with banking standards. Apple was close to announcing a deal with UnionPay back April but there were delays.


Today, BloombergBusiness is reporting that Apple and UnionPay have finally reached a preliminary agreement to introduce Apple Pay in China pending feedback from the banks that issue cards which could usher in Apple Pay in early 2016. While the BloombergBusiness report supports earlier reports on the matter, the details are weak at best.


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