Shortly after Apple launched its mobile payments service Apple Pay in China, there are reports that the iPhone maker's competitors in country are planning to release their own payments service. The revelation was made by IHS Analyst Kevin Wang, who named Xiaomi, Huawei, and ZTE in a Weibo post.
It's not that Apple Pay doesn't have any competition in China - there are mobile payment companies like WeChat Payment and Alipay from Alibaba Group that are already established in the world's biggest smartphone market. However, Apple is currently the only smartphone vendor offering such a service there.
Despite coming from a well-known analyst, the news still falls in the category of rumors as it's yet to be officially confirmed by any of the companies Wang named. However, given that Xiaomi is said to be bringing back NFC support in its upcoming Mi 5 flagship despite dropping it from the Mi 4 citing low usage, the rumor does seem to carry some weight.
Nevertheless, a rumor remains a rumor until it is officially confirmed, and till then it needs to be taken with a pinch of salt.
How is this fragmenting? What is it fragmenting? The nimrods who agree please explain how is this fragmenting and what is it fragmenting please..... Its just another way to pay. Fragmenting is visa, mastercard, American express etc. paying with mo...
If i'm gonna buy a huawei phone and find out that they are only having their own propriety payment system, i won't buy it and just go for 1 with Android Pay. It's like holding 5 different currencies in my wallet to shop at one place.
Relevant xkcd: https://xkcd.com/927/