Apple and Samsung have inked deals with UnionPay to enter the mobile payments space in China by early 2016, according to a report by Bloomberg late Thursday.
We’d already heard rumors last month that Apple Pay would launch in China by February.
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Mobile payments from Alibaba’s Alipay and Tencent’s Tenpay currently dominate in China, a space estimated to be worth around $3.5 trillion in 2014.
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Alipay remains the clear leader, with close to 83 percent of China’s third-party mobile payment market, as of last year.
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