Apple Released UnionPay App Store Option For Chinese Costumers

24.11.2014

Today Apple announced about UnionPay App Store option release for customers in China. With this different than Apple Pay payment option, Chinese consumers who have accounts in UnionPay can now purchase apps through Apple’s App Store.

China UnionPay is the biggest association for China’s banking card industry and the only interbank network in China region. UnionPay has issued over 4.5 billion Cards to Chinese customers and beyond. From now UnionPay Apple Store release appeared in China. Because up to current time the payment method has not been supported by the App Store.

From the Apple’s announcement:

The ability to buy apps and make purchases using UnionPay cards has been one of the most requested features from our customers in China,” said Eddy Cue, Apple’s senior vice president of Internet Software and Services. “China is already our second largest market for app downloads, and now we’re providing users with an incredibly convenient way to purchase their favorite apps with just one-tap.

As a bankcard network, China UnionPay operates China’s national inter-bank clearing and settlement system, develops the worldwide UnionPay Card acceptance network, promotes the issuance and usage of the Card as well as other innovative payment solutions, so as to provide quality, efficient and safe payment services to cardholders. To date, the total number of UnionPay Cards issued both at home and abroad has exceeded 4.5 billion. The UnionPay network has been extended to all cities and rural areas in China.

Apple also added that UnionPay Cards are one the most popular cards in China. All cities and rural areas in the country are also reached by UnionPay’s network . Additionally Cards are available in over 140 countries at current time.

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From the 2010 when the Apple company has first released its App Store and online retail it already past three years. During this time China has become a serious competitor for USA an Europe and one of Apple’s major operating areas and a vital area. It has a progressive move for future growth.

Just analyzing recent fourth fiscal quarter in net sales Greater China earns over $29.8 billion. It is up 17 percent year-over-year and it takes the third place after USA an Europe.



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