Apple is launched to break the duopoly of Tencent and Alibaba in China for mobile payments

Apple is launched to break the duopoly of Tencent and Alibaba in China for mobile payments

The American company will offer discounts of up to 50% when customers pay with Apple Pay in some stores with which it has an agreement

  The US company Apple this week launched a campaign in China to promote its mobile payment platform, which seeks to break the existing duopoly in the country between giants Tencent and Alibaba, according to the financial portal Caixin reported Wednesday .

Apple will offer a series of discounts of up to 50% when customers choose to pay with their Apple Pay service in some stores with which they have an agreement, in an attempt to increase their share in the world's largest mobile payment market.

  The market for online transactions is valued at 35 trillion yuan (about 5.2 trillion dollars, 4.66 trillion euros) in China, says Caixin, and is dominated by technology giants Tencent (with Wechat Payments) and Alibaba (with Alipay), who together dominate 92% of the market.

"Our goal is for all Apple users to use Apple Pay" in the country , Apple Pay vice president Jennifer Baily told the website. Apple has its second largest market in China, only behind the United States.

Apple arrived late to China with this service and did not launch it until February 2016, so its business figures are still very low and, according to the analyst Analysys, it is not even among the top eight online payment companies in China. volume of transactions.

Isabel Ge Mahe, vice president

In addition, the company itself announced the appointment of Isabel Ge Mahe as vice president and general manager for China, a new position created for leadership and coordination throughout the country-based Apple team that will be in charge of complying with the new cybernetic regulations in the country that foreign companies have to meet.

Just last week Apple announced a $ 1 billion investment project in the province of Guizhou with a data storage center, within the new requirements of the Chinese government that foreign companies store in the national territory the data generated in the National territory.