“Right now, I think what we can say is that this is focused on the China market for Apple,” senior Alibaba executive Joseph Tsai is quoted as saying. “We are positive about the potential cooperation, but it depends on the details being worked out.”
A possible partnership between Apple and Alibaba would likely include Alipay, China’s dominant online payment processor which is on the
verge of going public. An agreement between the two companies would integrate Apple Pay in a way that would let iPhone owners in China pay using funds from their Alipay accounts.
A potential roadblock could be the restrictions and limitations placed on Apple operating a mobile payments business in China. Alipay has already negotiated its share of roadblocks while going up against the state-owned UnionPay, which uses NFC payment technology similar to Apple but without the extra security of Touch ID.
Given the
success of the iPhone 6 in China now that it has arrived, teaming with Apple would also be a good move for Alibaba since its current Alipay system is based on the clunkier and less efficient concept of scanning QR codes.
Ultimately, the partnership would be great for both companies. Tim Cook has noted that getting Apple Pay up and running in China is
top priority for Apple and this would be a fantastic way to go about bringing that plan to fruition.
Title :
Apple Pay is one step closer to arriving in China
Description : Photo: Adrian Korte CC Apple is talking to Chinese e-commerce company Alibaba about bringing Apple Pay to China, according to a new repor...
Rating :
5