Skip navigation
Apple Pay Reaches the One-Year Mark in China. WeChat and Alipay’s Reaction? “Who?”
Article

Apple Pay Reaches the One-Year Mark in China. WeChat and Alipay’s Reaction? “Who?”

36Kr, 2017

auto-generated audio
auto-generated audio

Editorial Rating

8

Qualities

  • Analytical
  • Applicable
  • Overview

Recommendation

As Apple Pay marks its one-year anniversary in China, reporters Zhou Tian and Hao Hao of tech media firm 36Kr set out to investigate Apple Pay’s reach in the market. In a nutshell, Apple Pay is failing. Zhou and Hao provide an analysis of Apple Pay’s mishaps in China, comparing Apple’s strategy with that of domestic competitors. One point that the article doesn't mention: Apple has ceded market share to local smartphone companies in recent years; only iPhone owners can use Apple Pay, while other mobile payment systems work on any smartphone. As Chinese competitors Alipay and WeChat Wallet expand into other countries (including the United States), Apple Pay will soon face challenges on its home turf as well as abroad. getAbstract recommends this article to entrepreneurs, bankers, people in the tech industry and businesspeople with interests in the Chinese market. 

Take-Aways

  • In Beijing’s Zhongguancun District – China’s Silicon Valley – shop and restaurant owners rarely accept Apple Pay and barely even recognize it.
  • Most consumers aren’t aware that Apple Pay is faster and safer compared with QR code payment systems offered by WeChat and Alipay.
  • Apple hasn’t engaged in offline marketing and has neither scaled its China marketing team nor localized its product, relying instead on its partnership with bank-card services provider UnionPay.

About the Authors

Zhou Tian and Hao Hao are staff writers for 36Kr, a leading tech media website in China that provides reports on businesses and startups.