Apple backs payments via WeChat
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Apple Inc’s online services support WeChat payment from yesterday under a tie-up between the US technology giant and Tencent, China’s top dot-com firm with almost 1 billion users.
Apple users can purchase apps and subscribe to online music by bundling App Store and WeChat payment accounts. In China, around 963 million people use WeChat, a popular instant message and picture sharing tool.
Apple will “continue to be committed to offering customers across its ecosystem a variety of payment options that are simple and convenient,” the firm said in a statement.
The WeChat payment tie-up is expected to allow Apple to boost revenue from services, which may help the company to offset sales decline of iPhone and iPad in recent quarters in China, industry insiders said.
Apple has increased investment in China by setting up new research hubs data centers and more Apple Stores.
Questions & Answers
Q.What specifically can Apple users now purchase or subscribe to using WeChat Pay?
What specifically can Apple users now purchase or subscribe to using WeChat Pay?
Apple users can now purchase applications and subscribe to online music services. This is done by linking their App Store accounts with their WeChat payment accounts.
Q.Which company is the developer of WeChat, and how many users does it have?
Which company is the developer of WeChat, and how many users does it have?
WeChat is developed by Tencent, which is described as China's top dot-com firm. The service has approximately 963 million users in China.
Q.What is the expected benefit for Apple from this payment tie-up with WeChat?
What is the expected benefit for Apple from this payment tie-up with WeChat?
Industry insiders anticipate the tie-up will allow Apple to increase its revenue from services. This could help to compensate for recent declines in iPhone and iPad sales in China.
Q.What other investments has Apple made in China beyond this payment integration?
What other investments has Apple made in China beyond this payment integration?
Apple has increased its investment in China by establishing new research hubs and data centres. The company has also opened more Apple Stores across the country.
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