Tim Cooks is bullish on Apple Pay in China!!
China has always been a hostile ground for businesses and any outside presence on the soil is always not so welcome. Even Apple is subject to the complicated business atmosphere of the country and is finding a hard time to convince Chinese officials for the launch of Apple Pay. Negotiating with the country’s banks hasn’t been any easier for the Cupertino giant. Apple is currently not only in talks with the Chinese banks but is also negotiating terms with the Internet conglomerate Alibaba for the launch of its Apple Pay service as revealed by CEO Tim Cook.
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He was recently in an interview with China’s state-run news agency Xinhua where he reportedly said that “We very much want to get Apple Pay in China,” adding that “I’m very bullish on Apple Pay in China.” Apple’s mobile payments service was launched back in September last year and the US environment has proved to be very helpful for the growth of the service. Apple Pay has recently been gaining a lot attention for major outlets in the country and till now Apple has gotten into agreements with more than 180 financial institutions. The focus is now shifting to the Chinese market as Cook believes that the service has a lot of room to spread like wildfire in China.
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The recent report from IDC might have given the kick Apple needed to be convinced that China is the right place for the growth of Apple Pay. The report revealed Apple as China’s top smartphone vendor in the first quarter of this year after surpassing Xiaomi.