Apple launches bid to catch up in China mobile payment market
Nation-wide promotion offers up to 50% discounts when using Apply Pay
After failing to grab any significant piece of China’s US$5.2 trillion and growing mobile payment market, Apple is trying to make up ground with a huge promotional campaign launched this week.
Users of the Apple Pay service will receive discounts at forty designated franchises, including 7-Eleven, Starbucks, Carrefour, Gap as well as online outlets, reports Caixin.
Good luck. Competitors Tencent and Alibaba have amassed a whopping 92% of the mobile payment market share, with the remainder divided among a host of hopefuls. Baidu Wallet, which has been offering its own promotions, has only a 0.3% share.