Visa in China announces support for Apple Pay

Like Apple Pay for credit…

News from China as Visa announces that Chinese Visa card holders will soon be able to pay for things with Apple Pay as it will be possible to add their cards to the service.

Security and privacy are protected because when adding Visa cards, the actual card number is not stored on the device or on Apple’s servers. Instead, the system assigns a unique Device Account Number generated using Visa’s tokenization technology, encrypts it, and stores it securely in the device’s Secure Element.

What Visa says

Yin Xiaolong, General Manager at Visa Mainland China, said: “As global digital payments develop rapidly, consumers increasingly expect mobile payment solutions that are smartphone-based and interoperable… We are delighted to work with Apple and financial institutions to bring Chinese cardholders a safer and more convenient new mobile payment experience.”

Which banks will support this now?

The facility is available to Visa card holders at participating banks. The first batch of supporting issuing banks includes Industrial and Commercial Bank of China, Bank of China, Agricultural Bank of China, Bank of Communications, China Merchants Bank, China CITIC Bank, Ping An Bank and Industrial Bank.

Visa and Apple are working with more banking partners, including Shanghai Pudong Development Bank, China Construction Bank, China Minsheng Bank and China Everbright Bank, for future roll out.

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