We have been hearing rumors that Apple Pay will be launching in China early next year and now according to a recent report, Apple has come to a preliminary agreement with China’s largest payment provider.
Bloomberg has received some information that Apple and Union Pay have come to an agreement to launch Apple Pay in China.
Union Pay is the largest payment provider in China and it also has the largest point of sale network in China, this is something that Apple will need to get their mobile payment system off the ground in China.
The agreement has not been finalized between the two companies, although this is expected to happen before the end of the year to allow an early 2016 launch for Apple Pay in China, the latest rumors have suggested a February launch for the service.
Apple originally launched their mobile payment service back in 2014 in the US, it was launched in the UK earlier this year and was recently launched in Canada and Australia. The company is expected to launch it in a number of other new countries next year and 2016 could be the year that Apple gives their mobile payment system a major push.
China is a massive market for Apple and the launch of Apple Pay in the country could significantly increase the amount of people using the service.