Apple Inc plans to launch its mobile payment system Apple Pay in China by early February, the Wall Street Journal reported.

The iPhone maker has struck deals recently with China’s big four state-run banks, the newspaper reported late Monday, citing people familiar with the discussions.

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

Apple could not immediately be reached for comment.

(Reporting by Ismail Shakil in Bengaluru; Editing by Gopakumar Warrier)

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