On Wednesday, Shares of Apple Inc. (NASDAQ:AAPL), lost -0.72% to $118.03.
As Apple Pay enters China, the country’s lead in mobile payments provides a road map of sorts
In the hot new field of mobile payments, China is years ahead of the rest of the world. But that alone hasn’t made it a lucrative business, according to WSJ
In China recently, it is commonplace to pay for food delivery, taxis, restaurant meals, movie tickets and much more with a mobile phone. For would-be disrupters in the U.S. and elsewhere, this provides a road map of sorts for how the industry is likely to evolve, as well as where potential potholes lie.
Traditional noncash payment methods such as credit cards, and even personal checks, were never widely adopted in China. Bank cards have made inroads in the past few years, but penetration is still low by Western standards. Until recently, cash was king.
This has allowed China to leapfrog traditional payment systems. In the U.S., mobile-payment providers such as Apple Pay and PayPal-owned Venmo rely on the traditional infrastructure of bank-card numbers. Not so the leading e-payment solutions in China, Alibaba-affiliated Alipay and Tencent’s Tenpay—though user accounts do need to be linked to a traditional bank account.
Apple, having agreed to its own arrangement with major Chinese banks, plans to enter this fiercely competitive market early next year. It isn’t clear what rates Apple Pay will charge merchants. WSJ Report
Apple Inc. (NASDAQ:AAPL), is an American multinational technology company headquartered in Cupertino, California, that designs, develops, and sells consumer electronics, computer software, and online services.
The Companys products and services comprise iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
Apples consumer software includes the OS X and iOS operating systems, the iTunes media player, the Safari web browser, and the iLife and iWork creativity and productivity suites.
Its online services include the iTunes Store, the iOS App Store and Mac App Store, and iCloud.
Shares of Public Service Enterprise Group Inc (NYSE:PEG), declined -0.54% to $38.98, during its last trading session.
On November 19, The Board of Directors of Public Service Enterprise Group (PEG) declared a $0.39 per share dividend on the outstanding common stock of the company for the fourth quarter of 2015.
All dividends for the fourth quarter are payable on or before December 31, 2015, to shareholders of record on December 9, 2015.
Public Service Enterprise Group Incorporated (PSEG) is an energy holding company engaged in the transmission of electricity and distribution of electricity and natural gas. Its operations are located in the Northeastern and Mid- Atlantic United States. It conducts its business through two direct wholly owned auxiliaries: PSEG Power LLC (Power) and Public Service Electric and Gas Company (PSE&G).
Finally, Honeywell International Inc (NYSE:HON), ended its last trade with 0.45% gain, and closed at $103.63.
Chinese refiners are looking to get more product out of every barrel of oil – especially the hard-to-refine bottom of the barrel residue – over the next decade, according to a comprehensive survey of both state-owned and independent Chinese refiners. The survey was conducted on behalf of Honeywell UOP (HON), which is a recognized leader in refining technology.
China is the worlds largest importer of crude oil. Getting more useable products from each barrel is critical to their operations, especially as they seek to take advantage of low-priced heavy crude, which is significantly harder to refine, said Zhiming Huang, general manager of Honeywell UOP in China. Coupling that challenge with increasingly stringent fuel and emission standards, Chinese refineries are hungry for a breakthrough technology to enable more profitable operations by finding more gold in the bottom of every barrel.
Honeywell International Inc. (Honeywell) is a diversified technology and manufacturing company. The Company is engaged in serving customers across the world with aerospace products and services, turbochargers, control, sensing and security technologies for buildings, homes and industry, specialty chemicals, electronic and advanced materials, process technology for refining and petrochemicals, and energy efficient products and solutions for homes, business and transportation. The Company operates in segments: Aerospace, Automation and Control Solutions (ACS), and Performance Materials and Technologies (PMT).
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