This feature is only supported on iOS 10 and the latest iOS 11 system. The experience will be similar to Alipay payment, and users won’t have to type in the password, rather they can use their fingerprints to confirm a purchase.
Cash is now being replaced by mobile payments in China. A recent study conducted in China by WeChat showed that 74% of respondents felt they could survive on less than 100RMB in cash. Alipay was the pioneer to bring mobile payment in China, but 13-year-old Alipay is losing market to Wechat Pay, which was born in August 2013. In Q1 2017, Alipay’s market share dropped to 54 percent, while WeChat Pay claimed 40 percent.