Cook ‘Bullish’ on Apple Pay in China
May 14, 2015
Apple CEO Tim Cook is in talks with Chinese banks and Alibaba about launching Apple Pay in China, according to Xinhua, the official Chinese news agency. During an interview with the news service on a recent visit to the country, Cook expressed his interest in getting Apple Pay up and running in China and said he is visiting financial institutions and merchants to speed the process along.
“We very much want to get Apple Pay in China,” Cook said. “I’m very bullish on Apple Pay in China.”
While Cook is spending this week waving Apple’s flag in China and engaging “in talks” with Alibaba and Chinese banks, only two months ago reports about Apple Pay and China revolved around problems Apple Pay was having with China Union Pay. At the time, Apple was reportedly having issues with the Chinese credit-card network over revenue splits and technological standards. Despite this week’s publicity, it remains unclear if Apple and Union Pay are any closer to resolving those differences.