Apple, Samsung tap mobile payment potential

Tech-savvy Chinese shoppers will have new options when paying for their loaded shopping bags this holiday season, as two top smartphone vendors are poised to launch mobile payment services in the country.

Apple Inc and Samsung Electronics Co Ltd signed separate deals on Friday with China UnionPay, the biggest bankcard association in China, introducing payment methods that will be simpler than rival mobile payment applications.

Apple and Samsung users will be able to make purchases at brick-and-mortar stores across China using the companies' portal devices.