Apple (AAPL) Nears Launch of Apple Pay into Key Market

Apple's (Nasdaq: AAPL) Apple Pay payment platform is nearing entry into a key market.

According to the WSJ, Apple has registered an entity -- named Apple Technology Service (Shanghai) Ltd. -- in the Shanghai free-trade zone, which brings the company one step closer to operating its Apple Pay business in China.

Business operations of Apple Technology Service will include technical consulting, services, and system integration in the payments segment.

Apple's Tim Cook has said in the past that it wants to bring Apple Pay to China as soon as possible. Market watchers might estimate that Apple would move to have the service in place ahead of the Chinese Lunar New Year, which begins in early February next year. That makes January one of the key shopping months for China in 2016, versus November and December in the U.S. and other western markets.

Shares of Apple are indicated for a lower open.

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