When launched, Apple Pay will mainly compete with Alipay, the online payment platform run by Alibaba Holding Group Ltd affiliate Ant Financial, and UnionPay Co, a state-controlled consortium that has a monopoly on all yuan payment cards issued and used in the country.

Apple's plans could still face regulatory hurdles in China, where banking and e-commerce are overseen by a number of government agencies, reports said.

Launched in the United States in October last year, Apple is bringing its payment service to China, the most important market for smartphones. The company's sales nearly doubled in Greater China in its fiscal fourth quarter from a year earlier.