1. Akshay Masand's Avatar

    It has been noted by The Wall Street Journal that Apple is in talks with Alibaba for a possible partnership in getting a payments solution for China. We reported a few weeks ago that Alibaba’s Jack Ma and Apple CEO Tim Cook were interested in working with one another when the two met at WSJD Live. However, the person who shared insight on this meeting was Joseph Tsai, Alibaba’s Executive Vice Chairman. He also claimed that details have not yet been finalized and are still in the works.

    When Alibaba CEO Jack Ma met Tim Cook, the two talked about a possible collaboration of the latest Apple Pay and Alipay payment system. With this type of collaboration, the two are on track of figuring out an inclusive mobile payments solution for China. It is surprising that it’s only been a few weeks since the run-in and the idea is already moving. Alibaba has reported that Alipay currently has 300 million registered users and 100 million users on the mobile system. They also projected $150 billion in transactions in 2013, making them the biggest payments platform for mobile devices in the world.

    With China being one of Apple’s largest markets, it is definitely a smart move on Apple to team up with Alibaba. It is also not a surprising move as Apple is looking to expand even more in the Chinese market.

    Source: The Wall Street Journal
    Last edited by Akshay Masand; 2014-11-12 at 01:31 AM.

    Twitter: @AkshayMasand
    2014-11-12 01:26 AM