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People's Daily Online>>China Business

Apple adopts yuan for online payment

(China Daily)

16:00, November 22, 2011

BEIJING / SHANGHAI - Apple Inc's online store has started accepting payments made in Chinese yuan, to gain a further foothold in the world's biggest Internet market.

The App Store, which sells software applications for devices such as the iPhone and iPad, started accepting the currency last week in an unannounced move.

"The service has been there since last Friday. It's really good news for our customers and local application developers," said a spokeswoman for Apple China, but she declined to comment on the timing of the move.

The App Store previously listed prices and accepted payment in US dollars, requiring consumers to use payment cards with access to foreign exchange.

The online store will now accept yuan credit and debit cards issued by more than 20 banks, according to a customer services representative.

Because Chinese users had to previously use overseas credit cards to pay for applications, identity thieves stole credit card information used to obtain Apple IDs registered to overseas customers and then sold the information to Chinese customers.

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