Apple Pay steps into crowded market

Despite the seemingly good start, industry observers said it would not be an easy ride for Apple Pay to develop in China's already crowded mobile payment market.

Apple and Chinese bankcard association UnionPay launched the contactless payment system Apple Pay on Thursday.

Users of the iPhone 6 or more advanced versions, certain iPads and Apple Watches will be able to use these devices, equipped with near field communication technology, to buy items in stores in China, Apple's second-largest market.