Apple Pay ready to play in China; LG Pay launch rolled back
16 February 2016 | 6850 views | 0
Apple Pay is set to make its debut in China later this week, while rival platform LG Pay delays its lunch until later this year.
News of Apple's arrival in China was leaked by Industrial and Commercial Bank of China in social media postings, setting 18 February as the launch date.
The move will see Apple square up to home grown technology giants Alibaba with its Alipay service, and Ten Cent's WeChat platform, both of which use QR codes for online shopping on the high street.
The US consumer electronics group has a large fanbase in China, ensuring the support of the biggest banks and credit card operators as it enters the market. Up to 15 other Chinese banks are believed to be ready to back the service at launch.
Meanwhile, potential rival LG Electronics has confirmed that it will not be launching its home-grown mobile pay platform at next week's Mobile World Congress as originally planned, setting back the launch date to the summer months.
“LG Electronics has delayed the official launch of LG Pay to the second quarter of this year to help the new LG flagship smartphone — G5 — receive more media attention,” an LG official told The Korea Times.