As digital evolution continues to advance the retail space with new channels and tools, mobile payment has become a new battlefield where major players across a wide spectrum of industries, from web applications to wireless, retail, mobile devices to financial services, are gearing up to enter the market. Here in the U.S., the major players are aiming to dominate the market. Outside of the U.S. market, China is the biggest market for player like Apple to enter. In fact, China is going to be the largest and most important market for Apple in coming years.
As Apple’s recent attempt to enter China faces regulatory obstacle, the key lessons for Apple is acknowledging the regulations and work out strategic alliances in China. On the other hand, In order to stay atop in the global economy, the Chinese government will need to provide a more viable environment for business activities in China. After all, competition brings innovation, and that’s exactly what it needs to keep bringing its economy forward.
Image source: TechCrunch