(Yicai Global) Aug. 29 -- Apple Inc.'s [NASDAQ:AAPL] mobile App Store will this week begin to support WeChat Pay, the mobile payment service offered by Chinese web giant Tencent Holdings Ltd. [HKG:0700], online media outlet Techweb cited insiders as saying.
The move marks a big step for the American smartphone maker ten months after it began allowing users to make payments and add credit to their Apple account using Alipay, the payment service offered by Chinese e-commerce juggernaut Alibaba Group Holding Ltd. [NYSE:BABA]
App Store users climbed quickly after it permitted Alipay payments last November. Over the past 90 days, Apple has witnessed considerable growth in its subscription services, Apple Music and iCloud, which can be attributed to the introduction of new payment methods, said Luca Maestri, Apple's chief financial officer.
Greater China has become the App Store's largest market, and revenue from gaming applications is a major income source from Chinese users. Gaming is also a core business for Shenzhen-based Tencent, which is the world's largest gaming firm.