券商中国·2026-01-15 14:27Core Viewpoint - Visa has announced support for Chinese-issued Visa cards to be linked to Apple Pay, breaking the previous exclusivity of UnionPay cards in China [1][2][3] Group 1: Initial Banks and Partnerships - The first eight banks to support this initiative include Industrial and Commercial Bank of China, Bank of China, Agricultural Bank of China, Bank of Communications, China Merchants Bank, CITIC Bank, Ping An Bank, and Industrial Bank [2] - Visa is also collaborating with Shanghai Pudong Development Bank, China Construction Bank, Minsheng Bank, and China Everbright Bank for future support [2] Group 2: Consumer Benefits and Promotions - Consumers can now use Apple Pay with Visa cards for contactless payments abroad, eliminating the need to carry a physical Visa card [2][4] - Various promotional activities have been launched by the initial banks to attract customers, including cashback offers and incentives for using Apple Pay with Visa cards [4][5] - For example, China Merchants Bank offers a 1% cashback on all overseas transactions made with Apple Pay linked Visa cards, while Ping An Bank provides a $5 cashback for transactions over $5.01 [4][5] Group 3: Technological Advancements - Visa has emphasized its investment in data and payment security, introducing payment tokenization services to enhance security in cross-border transactions [6][8] - Payment tokenization removes sensitive information during online or mobile shopping, significantly reducing fraud risks [6] - The integration of Visa cards with Apple Pay allows for the application of payment tokenization in more overseas payment scenarios, improving convenience and security for cardholders [6][7] Group 4: Security Features - When a China Merchants Bank Visa card is linked to Apple Pay, the actual card number is not stored on the device or Apple's servers, enhancing security [8] - A unique Device Account Number is generated and encrypted for secure storage, ensuring that payment information is protected [8]