Apple Inc. (NASDAQ:AAPL) Rumored To Launch Apple Pay In Three Major Countries
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Rumors have emerged that Apple Inc. (NASDAQ:AAPL) is gearing up to launch its mobile payment service Apple Pay in Canada, China and France.
China is the latest target with its launch set for this week while France and Canada will get involved before the end of the first half of the year. The launch in the three countries is part of the company’s competitive strategy to compete effectively with rivals such as Samsung Pay, Paypal Holdings Inc (NASDAQ:PYPL) and Alibaba Group Holding Ltd (NYSE:BABA).
An official of China Bank confirmed the launch of the mobile payment service through a post on his WeChat account. He stated that the launch would take place on Thursday. The tech company had previously announced that it would launch the service sometime this year, but it did not specify details.
Another Chinese bank known as Guangfa Bank also confirmed the launch will take place on Thursday. Towards the end of 2015, James Cordwell, an analyst from Atlantic Equities and Apple’s Senior Vice President of Internet Software, Eddy Cue, stated that the company expects smooth operations in the Chinese market.
According to Cordwell, Samsung Pay does not appear as much of a threat to Apple because it depends on the presence of the devices in the market. He also feels that the competitor is retreating from the market, and, therefore, it is not a cause for concern to Apple regarding the competition.
A blog called iGen claims that it received a tip from an anonymous source that the launch of the service in France will take place in the first half of the year. Apple will most likely make the revelation in June during the WWDC 2016. However, it will depend on whether the firm will be on good terms with the French banks.
As for the Canadian market, not much was mentioned, but there has been speculation that it will launch soon even as it gears up for the UK. The service is already growing quickly, and the launch in these countries is expected to boost its popularity.