The launch of Apple Pay in China, originally expected to be part of iOS 8.3, has been delayed by stalled negotiations with both the state-owned card processor UnionPay and Chinese banks, reports MarketWatch. Developers had originally been told that iOS 8.3 would support UnionPay, but found that support was missing when the update rolled out last week.
A UnionPay employee who declined to be named said the company has not reached any agreements with the U.S. tech company, and no timetable for cooperation has been set […]
Those sources also say Apple has not made any breakthroughs in talks with Chinese banks, which would also have to agree for the Apple Pay system to work.
The banks are reportedly unhappy about the cut Apple takes from each transaction … expand full story