Apple and Samsung have each announced plans to launch their mobile payment platforms in China next year.
Card-issuer China UnionPay has partnered with both companies and will allow its cardholders to add their accounts to Apple Pay and Samsung Pay. UnionPay is similar to MasterCard and Visa in that it runs a card acceptance network.
China is an important market for Apple and Samsung to enter, given its size. Apple Pay is available to the iPhone 6, 6 Plus, 6s, and 6s Plus. Samsung Pay is available to the Galaxy S6, S6 Edge, S6 Edge+, and Note 5.
Both mobile payment services are already available in the U.S.
