Apple Teaming Up With Alibaba Could Make Apple Pay The Biggest Mobile Wallet In The World

  • November 11, 2014

Writing for Fast Company, Chris Gayomali pointed out that Apple is on to a winner if they somehow managed to team up with Alibaba to launch Apple Pay in China:


Off the top of your head, what would you guess is the single biggest mobile payment system in the world? PayPal? Square? Maybe Google Wallet?

The answer is Alipay, the mobile payment wallet owned by Chinese e-commerce company Alibaba. In February, Alipay became the single biggest digital payment platform in the world. In 2013, Hong Kong newspaper the Standard reported that Alipay processed nearly $150 billion in mobile transactions, which makes the platform larger than PayPal and Square combined.[/su_quote]

Gayomali piece was in response to a new report from the Wall Street Journal in which a senior Alibaba Group Holding Ltd. executive told the publication that a payment with Apple Inc would focus on the Chinese and the two parties are currently discussing specifics of a possible partnership.

Alibaba Executive Vice Chairman Joseph Tsai told the Wall Street Journal:


One possible scenario is for Alibaba’s financial affiliate, which owns the Alipay electronic-payment business in China, to provide back-end services for Apple’s Apple Pay payment system, allowing iPhone users to pay with Apple Pay using the money from their Alipay accounts.

The two companies are looking into whether there are opportunities to work together since Apple would have certain restrictions and limitations on operating payments businesses in China.[/su_quote]

I believe Apple is pulling all the right strings to make Apple Pay a success.

Posted by | Posted at November 11, 2014 22:06 |
Storm is a technology enthusiast, who resides in the UK. He enjoys reading and writing about technology.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Related Posts

Will Apple Develop a ChatGPT A.I. Competitor?

April 23, 2023
Apple has always been known for its innovative products, from...

The Latest Apple iPhone News: What to Expect in 2023

February 12, 2023
Apple Inc., the leading tech giant in the smartphone market,...

© 2023 THETECHSTORM. All Rights Reserved.