If you're looking for the newest and coolest way to give someone money in return for goods and services, rejoice! Apple Pay was launched in China yesterday for everyone with an iPhone 6, 6S or Apple Watch.
Apple CEO Tim Cook took to Weibo saying he 'can’t wait for you to try it and see how incredibly easy it is to use!'
Is this groundbreaking news? For Chinese shoppers, not really. In terms of mobile payments, Apple were pipped to the post by Alipay and WeChat wallet, both already used by millions to buy everything from groceries to plane tickets (setting up WeChat wallet is pretty easy - check out our guide on how to do so on our website).
Apple Pay had an advantage in the mobile payment market when it launched in countries such as the US and the UK, but the corporation will have to play catch up in China if they are to secure a share of the large but crowded market.
China had 359 million online payment users as of the middle of 2015, up 18 percent in six months, according to the China Internet Network Information Center. Most Chinese citizens use Android devices making them ineligible for Apple Pay, but there are hopes loyal Apple users will choose Apple Pay as their payment method over rival services.
Apple made this happen by teaming up with UnionPay, a bankcard provider who were also looking to enter the mobile payment market. About 20 Chinese banks currently support the service, while UnionPay has provided point-of-sale terminals for completing transactions.
Of course there will be lots of people in China who will be thrilled by this news; now, you'll be able to show off your spending prowess and your Apple watch/iPhone at the same time.