Apple, Samsung to Enter China Payments Market With UnionPay
- Agreements in China subject to certification from regulators
- UnionPay is China's largest payments and clearing network
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Apple Inc. and Samsung Electronics Co. reached separate agreements with China UnionPay Co. to introduce their competing mobile payments systems in the country next year.
Customers of UnionPay, China’s largest payment and clearing network, will be able to add their bank cards to iPhones, iPads and the Apple Watch for purchases through Apple Pay, the companies said in a statement. Users of Samsung Galaxy and Note devices will have similar options.