According to the source, although the company has been working with several banks in order to make the payment service available to consumers, these banks see little promise in Apple Pay.
This is mainly due to the fact that there are already mobile payments services available in Hong Kong. Also, Apple will have to overcome the small number of NFC-enabled iPhones that are currently being used in Hong Kong. Apple Pay can only be used by iOS devices that have NFC chips, which are only included in Apple’s latest generation of mobile devices. Another problem is that consumers, especially those with American Express accounts associated with Apple Pay, will have to meet income requirements and pay annual fees.
Apple Pay first launched in the US in October 2014 and has been live in the UK since July 2015, allowing iPhone and Apple Watch users to pay for goods and services.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now