Samsung has become the latest company to launch mobile payments in China, reported the BBC. Last month, Apple launched its own Apple Pay system in China, also in partnership with UnionPay. Samsung Pay and Apple Pay will now compete with Alibaba’s Alipay, which currently dominates China’s electronic payments market, and WeChat, the second most powerful player. However, mobile payment services provided by Alipay and WeChat were so dominant in China that international newcomers such as Apple and Samsung would face “an uphill battle” to win market share. Chinese telecom company Huawei also launched its own service earlier this month.
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