Sources close to Apple’s talks with Chinese banks say a disagreement over Apple’s fees has stalled Apple Pay’s rollout to China, MarketWatch reports. Despite rumors that Apple would wrap up negotiations in March, problems with UnionPay — the only company that handles inter-bank payments in China — have kept Apple Pay support for out of the iOS 8.3 Chinese release last week. An unnamed UnionPay employee said the company hasn’t made a deal with Apple or set a timetable for reaching one. Chinese banks also balked at the 0.15 percent charge Apple takes from the standard 2 percent fee on credit card transactions and the half-penny Apple collects from debit transactions in the U.S. Apple has also hit snags rolling out Apple Pay in other countries as well, including the U.K.
Apple Pay timeline in China unknown after negotiations stall
By Dan Pye