Forecast came true

Apple Pay’s invasion of China stalls
17 february 2015

China’s central bank, UnionPay bank-card service and e-commerce giant Alibaba Group Holding Ltd. BABA, +2.24% are standing up to Apple Inc.’s AAPL, +0.49% effort to bring the Apple Pay no-card-no-cash payment system to iPhone users in China.

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Apple Pay’s invasion of China stalls

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Forecast came true

China’s central bank, UnionPay bank-card service and e-commerce giant Alibaba Group Holding Ltd. BABA, +2.24% are standing up to Apple Inc.’s AAPL, +0.49% effort to bring the Apple Pay no-card-no-cash payment system to iPhone users in China.