The importance for offline presence for digital success....4.5 Billion cards issues are 4.5 cards per chinese....anyway the 100 million Iphone users will be happy!
App Store customers in China can now link their UnionPay debit or credit cards to their Apple IDs. This is significant for Apple and Chinese consumers because China UnionPay, a bankcard network approved by China’s State Council and the People’s Bank of China, enjoys a virtual monopoly. It has issued more than 4.5 billion cards in China, and is available in all cities, as well as in overseas market. China (which has an estimated 100 million iPhone users) is Apple’s most important growth market; in its recent fourth-quarter earnings report, the company reported that the market generated $29.8 billion, or 16 percent, in net sales in 2014. China UnionPay is the only interbank network in mainland China to link all ATMs. Government regulations mean that all ATMs and Chinese merchants have to use UnionPay to process payments in renminbi
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