Apple Pay is already available in countries like China, Canada, Australia, the United Kingdom, and the United States. And now the service has been expanded to Singapore. But there is one problem with Apple Pay’s expansion – teaming up with financial institutions, Apple Pay Singapore has one shortcoming.
When a company expands its services to other countries, just like Apple Pay Singapore, the companies have to negotiate tie ups with other companies that will help them carry out business flawlessly in the said nation. If the brand planning to expand does not get support from the already established institutions, survival becomes difficult. For a service like Apple Pay, the brand needs immense support from financial institutions especially the reputed ones to work. Currently, the service has a strong support of American Express. Hence, in many countries, Apple’s mobile payment system works only for American Express Card owners.
Same is happening for Apply Pay Singapore. Though the company may tie up with other financial institutions eventually, it is now said to be working only for American Express card holders. While speaking of the scenario, TechnoBuffalo wrote, “That’s exactly how Apple Pay has been brought to Singapore, but Apple says that it already has the support of Visa and some local banks — including DBS, UOB, and Standard Chartered — and will be adding support for those in the “coming months.”
With the support of American Express, the service may also soon expand to Hong Kong and Spain in 2016. There is no hint about the launch dates. Apple Pay Singapore was also launched without warning. Similarly, it is expected to release in these two countries without any prior announcement.
Also Read: Barclays Brings Apple Pay Onboard
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