Tag: hong kong

Apple’s mobile payments platform to launch in Asia in 2016

Apple Pay will expand in early 2016, giving more consumers access to mobile payments

Apple Pay is set to expand to prominent markets in Asia. The mobile payments service has managed to find modest success in the United States, but it has yet to become a mainstream service that consumers favor over other alternatives. Apple believes that the service will find significant success in Asian markets due to the growing number of people relying on their mobile devices to shop for and purchase the products that they are interested in.

Apple Pay to come to China, Hong Kong, and Singapore

Apple is preparing to launch its new mobile payments service in China, Hong Kong, and Singapore next year. The company is also expected to bring Apple Pay to Spain at some point in 2016, tapping into the growing mobile payments market in Europe. Notably, China and Hong Kong may be where Apple Pay finds the most success, but also the most competition. Mobile payments have been popular in Hong Kong for several years, with many companies having already established a major foothold that will make it difficult for Apple to find any traction. This is also true in China, where massive companies like Alibaba and Tencent have become involved in the mobile payments space.

Competition is strong in the Asian mobile payments space

Mobile Payments - Apple Pay in AsiaWhile Apple Pay will be coming to new markets, Apple has been experiencing some pushback from financial institutions in several markets. Banks, in particular, are unsure of the value of Apple Pay, largely due to the other payment services that exist. Some of these banks have their own mobile payments platforms and see Apple Pay as something that will have only moderate appeal to consumers.

More retailers are beginning to support mobile payments

China is currently the leading mobile payments market, with many companies offering some degree of mobile commerce support. As smartphone penetration increases in the country, more consumers are beginning to rely on their devices to shop for products online. As a result, retailers are beginning to show more favor for mobile payments services, which allow them to better connect with consumers.

Sony plans to launch its own mobile payments solution

Sony will be launching FeliCa in Asia

Sony may become the next technology company to become involved in mobile payments. While Sony has no plans to compete with others in the smartphone market, it does have plans to launch its own mobile payments technology in Asia. The company is expected to launch this technology in the public transportation industry of Asia, allowing consumers to use their mobile devices to pay their transit fare. The system that Sony is working on is known as FeliCa.

Mobile payments are expanding throughout Asia

Mobile payments have become very popular in Asia, where many consumers are beginning to use their smartphones and tablets to purchase products and shop online. They are also using their devices to purchase products in physical stores that support mobile transactions. When it comes to public transportation, consumers are looking for more convenient ways to pay their fares, and they smartphones may be the best solution to this issue.

FeliCa will allow consumers to pay for public transit services

Mobile Payments - Sony StoreSony will be rolling out FeliCa in Indonesia as early as next spring. Southeast Asia, in particular, holds a great deal of promise when it comes to mobile payments. The mobile networks of this region are expanding quickly and public transportation services are becoming more advanced. As this trend continues, more consumers are expected to become involved in mobile payments. Supporting mobile transactions may help Sony establish a strong position in the mobile commerce market.

Sony could leverage its experience in mobile payments to compete with other companies

While FeliCa will be the first mobile payments system launched by Sony, the company has actually been involved in mobile commerce for a decade. Chips that facilitate mobile transactions have been used in Hong Kong’s public transportation space, where consumers use this technology to pay for transit services. Sony intends to compete with companies like Apple and Samsung which have already launched their own mobile payments platforms. These two companies have already established a lead in the mobile commerce market, but Sony may be able to leverage its expertise and prove to be a challenge to both these companies.