Organizers claimed that nearly 2 million Hong Kong protesters took to the streets Sunday in a rally to demand the city's top official resign a day after she suspended — but...China Politicsread more
African swine fever, which has already ravaged pig herds in China and pushed up food prices there, could also drive up inflation in the other emerging markets, according to...Asia Economyread more
Consumer goods giant Unilever has taken the unusual step of having some of its marketing staff read their own DNA profiles to see whether finding out about their heritage has...Marketing.Media.Moneyread more
Stocks in Asia traded mixed on Monday as investors await a U.S. Federal Reserve meeting set to happen later in the week stateside.Asia Marketsread more
In the survey, 66% of Democratic primary voters say they'd be enthusiastic or comfortable about Biden as their nominee to take on President Trump in the 2020 election. Just...Politicsread more
Heavy rains caused unprecedented delays in planting this year and contributed to record floods across the central United States.Agricultureread more
Target's registers were down on Saturday for several hours preventing customers from checking out.Retailread more
Although Cook did not mention companies by name, his commencement speech in Silicon Valley's backyard mentioned data breaches, privacy violations, and even made reference to...Technologyread more
U.S. ambassador to Israel David Friedman called the gesture a "birthday present" to Trump, who turned 73 on Friday.Politicsread more
The outlook for Germany's economy and political stability are more uncertain than ever, writes Michael Ivanovitch.World Economyread more
The agreement, which is on the framework for the plan of adjustment, provide for more than a 60% average haircut for all $35 billion, a 36% haircut on pre-2012 general...Bondsread more
Apply Pay – which allows users to hold up their iPhone to a reader and pay for items – was launched in the U.S. last September and has seen "great momentum," CEO Tim Cook said last month.
But now the Cupertino, CA-based giant wants to expand the payment system to China -- the company's second-biggest market by revenues.
"We very much want to get Apple Pay in China," Cook told Xinhua in an interview published late Monday. "I'm very bullish on Apple Pay in China." (Tweet this)
China has become a crucial market for Apple and it is now selling more iPhones in the country than in the U.S. The American company has also eclipsed domestic rival Xiaomi to become the biggest smartphone player in China. (Tweet this)
Apple was not immediately available for comment when contacted by CNBC.
With a huge number of smartphone users in China, expanding Apple Pay into the country makes sense -- but the company will face a number of challenges.
Apple Pay works on a technology known as near-field communication (NFC), a wireless system that allows people to pay with credit cards linked to their smartphone by tapping the device on a reader.
In China, UnionPay – that state-owned credit and debit card operator – dominates the processing of payments made by NFC. As such, UnionPay sets the transaction fees, which could be a potential hurdle for Apple in China.
This is likely one reason why the technology giant is looking to partner with Chinese e-commerce giant Alibaba, which owns its own mobile payment system known as Alipay. This uses different methods of paying for items, such as scanning a special barcode. Alibaba is also experimenting with different authentication methods, such as taking a selfie to authorize a payment.
The exact details of how Alibaba and Apple could work together are unclear, but any partnership will give the U.S. technology giant a way into the mobile payments market in the world's second-largest economy.
"Ant Financial (the Alibaba affiliate behind Alipay) is open to work with various partners in order to provide secure, efficient and convenient online and mobile payment services for over 300 million Alipay users," a spokesperson told CNBC by email.