[Courtesy of Samsung Electronics]
Samsung Electronics and China UnionPay Co. came to an agreement to cooperate in promoting Samsung Pay, a mobile payment system in China. Samsung Electronics announced on Friday.
China, the world’s second largest market is the competing grounds of mobile payments. While local systems such as Tencent and Alibaba are widely used, Apple’s Apple Pay also made an announcement on Thursday, that the company will promote its mobile payment system with China UnionPay.
Samsung plans to start its service in the first half of next year. The service will be ready to launch as Korea’s tech giant is waiting for the Chinese government to finish the certification process. Faster the process is finished, faster the services launches.
Apple is also waiting for the authorities to finish the certification process of its Apple Pay. Apple also had announced that the company plans to launch the service in the first half of next year.
With Samsung and Apple scheduled to launch their services in China, Asia’s largest market will turn into a giant hot pot, where the great battle of mobile payment system begins.
아주경제 박세진 기자 = swatchsjp@ajunews.com
reporter
Park Sae-jin
swatchsjp@ajunews.com
