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Alibaba and Apple in Talks Over China-Focused Payments Partnership
An Alibaba executive said today that the Chinese e-commerce company and Apple are currently in talks over a partnership to provide a payments solution for China, reports The Wall Street Journal. The comments were shared by Alibaba Executive Vice Chairman Joseph Tsai, who also noted that the partnership would focus on Apple's presence in China and that the details are still being worked out.
A partnership between both companies could potentially see Alibaba's Alipay electronic payments service integrate with Apple Pay to provide a comprehensive mobile payments solution for the Chinese market. The comments from Tsai come weeks after Alibaba founder Jack Ma noted that he was interesting in teaming up Apple in the payments sector.
Earlier this year, Alipay overtook PayPal to become the largest mobile payments platform in the world with an estimated $150 billion in transactions processed in 2013. Alibaba also noted that the service has 300 million registered users and 100 million mobile users. Integrating Alipay with Apple Pay would be the latest move by Apple to expand its presence in China, which has grown over the past few years. Last year, Apple struck a deal with country's biggest carrier China Mobile and has opened a number of new retail stores in populated areas like Shanghai and Shenzhen.
A partnership between both companies could potentially see Alibaba's Alipay electronic payments service integrate with Apple Pay to provide a comprehensive mobile payments solution for the Chinese market. The comments from Tsai come weeks after Alibaba founder Jack Ma noted that he was interesting in teaming up Apple in the payments sector.
Earlier this year, Alipay overtook PayPal to become the largest mobile payments platform in the world with an estimated $150 billion in transactions processed in 2013. Alibaba also noted that the service has 300 million registered users and 100 million mobile users. Integrating Alipay with Apple Pay would be the latest move by Apple to expand its presence in China, which has grown over the past few years. Last year, Apple struck a deal with country's biggest carrier China Mobile and has opened a number of new retail stores in populated areas like Shanghai and Shenzhen.
Tag: wsj.com
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68 months ago
I wonder if MCX are in talks as well with the Chinese to role out CurrentC in China....
/s
/s
68 months ago
I think the deal is very near being finalized.
They usually don't talk much until then.
They usually don't talk much until then.
68 months ago
What issue do you have with Paypal? Actually I wished it would've expanded more into the retail sector rather than just being online. It's a very convenient way to pay for stuff.
It's great as a buyer.
It's absolute hell as a seller.
68 months ago
Last year, Apple struck a deal (https://www.macrumors.com/2013/12/04/apple-finally-signs-deal-with-china-mobile-for-december-iphone-launch/) with country's biggest carrier China Mobile and has opened a number of new retail stores in populated areas like Shanghai (https://www.macrumors.com/2013/10/23/new-two-story-shanghai-apple-retail-store-opens-saturday-at-the-iapm-mall/) and Shenzhen (https://www.macrumors.com/2012/10/29/apple-retail-roundup-palo-alto-store-hurricane-sandy-preparations-shenzhen-store/)
Well, I would hope they're not opening retail stores in the wilderness.
68 months ago
Exciting news
Considering Alipay is awesome and widely accepted for goods and services around China, I think this is very good news. If they could get Alipay and Unionpay on board they'd cover the vast majority of the market. Very keen to see how this develops.
Considering Alipay is awesome and widely accepted for goods and services around China, I think this is very good news. If they could get Alipay and Unionpay on board they'd cover the vast majority of the market. Very keen to see how this develops.
68 months ago
Hope it will help bridge China with the West. Currently, it's almost impossible to deposit money to your Alipay account with a Western payment method such as Visa.
Works fine if you've got a Chinese bank account though ;-)
I'm just wondering if Alibaba is going to use its massive warchest to launch an international expansion, especially for Alipay... I'd be very excited to see that.
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Do you know if alipay is widely accepted??
I pay for my power bill, phone bill, airplane tickets, hotels, taxis, supermarket purchases, convenience store purchases, courier services and all my online shopping needs with Alipay. Pretty widely accepted I say, and more places coming online all the time.
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....now we can use ApplePay to pay for all those iPhone 6 clones all over aliexpress!!!! Ironic considering they openly sell these copyright infringing products.
It is a platform, they aren't selling anything.
68 months ago
What issue do you have with Paypal? Actually I wished it would've expanded more into the retail sector rather than just being online. It's a very convenient way to pay for stuff.
My issue with them is they masquerade as a transaction processing company and then act like an escrow.
Horrendous for a seller.
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