• Alibaba Executive Joseph Tsai Provides Insight into Negotiations with Apple

    Alibaba Executive Vice Chairman, Joseph Tsai, recently gave some insight into the company’s talks with Apple in a new interview with The Wall Street Journal. He stated that an alliance with the Chinese eCommerce giant could potentially help Apple avoid regulatory delays and move Apple Play closer to debuting in China. As of right now, discussions are moving forward with the involvement of Ant Financial, the company within Alibaba that manages its Alipay payment service.

    Tsai went on to say the following regarding the matter:

    If people want to use Apple Pay in China, Apple would have certain restrictions and limitations on operating payment businesses in China. So we are thinking whether there is any opportunity for us to work together where Apple Pay and Alipay can somehow work together in China.
    He continued by stating that it would be an “obvious possibility” for Apple Pay to utilize Alipay’s back-end to process payments. Such a move would enable users of Alipay, which is currently mostly an online transaction service, to make payments from their accounts at retail.

    For those of you who didn’t already know, Alibaba confirmed that it had engaged in negotiations with Apple for a potential partnership between Apple Pay and Alipay. Although Alibaba is an online powerhouse, Alipay hasn’t taken off in retail as it relies on QR codes that need to be scanned from a user’s smartphone. On the other hand, Apple Pay, which relies on seamless near-field communication technology and integrates Touch ID fingerprint scanning for secure authorization of transactions has been largely a huge success thus far. A partnership would allow both companies to gain a foothold in the Chinese market.

    We’ll have to wait and see what comes of the whole ordeal by being patient.

    Source: The Wall Street Journal
    This article was originally published in forum thread: Alibaba Executive Joseph Tsai Provides Insight into Negotiations with Apple started by Akshay Masand View original post
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