Apple Pay’s new strategy to bury the Chinese market has backfired. It is facing obstacles in its path.
China is fighting back against foreign and specifically Western neo-colonialism as its main bank, UnionPay, and Alibaba Group stall the efforts of Apple Pay to provide its services to consumers possessing iPhones. Apple Pay will feature a cardless/cashless payment procedure that is tops in convenience and ease of operational methodology.
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Currently, after facing stiff opposition from these two central Sino-institutions, Apple is trying its best to play the ever-devout and dashing suitor to the coy mistress that is the Chinese economy. But the major issue is the lack of affirmed regulators by Apple. This is the bone of contention between Apple and China, according to Caixin (via MarketWatch)
What remains a mystery is whether Apple’s services and products are on a par with the governmental standards which are stringent indeed. Also Apple’s rickety relationship with UnionPay has led to a spanner being thrown into the works.
Apple Pay began operations in the US sometime in September after the debut of its iPhones 6 and 6S. A mere swish of a finger over the smart phone screen led to the completion of a transaction involved in the service known as Apple Pay. And just few days ago, The White House also announced that federal-payment cards started supporting Apple Pay.
Apple’s untiring and relentless drive to spread Apple Pay on a global basis has so far faced some hurdles that are not easily surmountable. NFC technology and wireless systems play a pivotal role in Apple Pay’s setup.
Such a base of operation already exists on a partial level at UnionPay and the same goes for Alibaba being employed as a payment hub. And although Apple is patiently trying to act all chummy with Alibaba and UnionPay, so far its situation is one of close but no cigar.
Time is running out and the war for recognition in China is a losing game. What took place so effortlessly and smoothly in the Land of the Yanks is being met with in a rigid and frigid manner from behind the Bamboo Curtain.
The complexities of endless negotiations and change of climate and customs spell doom for Apple’s sincere forays. It is yet to be seen what China has in store for Apple and its well-hatched plans. The impasse that seems to have cropped up has both parties at loggerheads with each other.
China is a virgin territory for Apple which wants to expand its domain in the Sino-sphere. Already billions of dollars have been invested on this venture and the returns on them look good. Yet, the conflicts and cultural differences remain.
Meanwhile, a new development on Chinese soil has led to a transformation of the Apple Pay Question. Fingerprint recognition smart phones have hit the market leading many to recognize that their nation is actually much more self-reliant than they could fathom.
According to Digitimes, by the middle of the current year the demand for these fingerprint authentication systems on smart phones will have flooded the Chinese high tech niche market. The purchase of products and services via these fingerprint forces of change will radically change the Chinese landscape and mindscape.
The prices of these devices will probably be less than $5 per unit when they do arrive in scads. And the next step is dual lenses on smart phones. China is coming of age in matters of technology and infrastructure.
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And Apple had better beware since Asian Civilization is on the rise and will probably trump the West within the next couple of decades or so. That is the forecast for now since the world is changing at an ever-increasing pace that has almost acquired a feverish pitch. Let’s see what happens next…!