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Apple Pay Faces Obstacles in China

  • Cnet, Thursday, February 19, 2015 10:45 AM

The iPhone maker is trying to work out agreements with certain banks and financial institutions, a People's Bank of China official said, MarketWatch reported Monday. However, Apple has not yet "acknowledged regulators," the official added, and "it's unclear whether the product meets the government's requirements." Unveiled in October in the US, Apple Pay allowsiPhone 6 and iPhone 6 Plus owners to pay for items on the go via the wireless NFC (near-field communication). technology. 

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