Apple Pay wants to partner with Alibaba

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Tim Cook, CEO of technology powerhouse Apple has stated that he wants Apple Pay to enter the Chinese market and it’s widely expected that he will join forces with e-commerce firm Alibaba.

The chief executive officer is currently visiting Beijing, promoting Apple’s partnership with WWF in managing the nation’s forests. Cook did have time however to make his intentions clear regarding Apple Pay entering the Chinese market.

We very much want to get Apple Pay in China. I’m very bullish on Apple Pay in China,” said Tim Cook, CEO of Apple in a recent interview with Xinhua.

This is not the first time that Apple has been bullish on implementing Apple Pay into certain sectors. Last month Payment Eye reported that the payments division of Apple secured the services of electronic retail giants Best Buy, despite the chain being a firm supporter of contactless payment firm Merchant Customer Exchange (MCX).

Teaming up with Chinese e-commerce firm Alibaba seems like the perfect option for Cook and his company. Mobile payment firm Alipay, who are an affiliate of Alibaba group holding, account for 82 per cent of the Chinese mobile payment market.

Partnering with Alibaba would give Apple access to Alipay’s consumer base, potentially allowing Apple to increase the number of Apple stores in China from 22 to 40.

The collaboration seems like it has been in the pipeline for a number of months. Jack Ma, founder of Alibaba commented in October on a potential relationship with Apple Pay. ‘‘I’m very interested in that. A good marriage needs both sides working hard. I respect Apple and I respect Tim (Cook) very very much, from the heart. I hope we can do something together.’’

Cook certainly returned the compliment during the Wall Street Journal technology conference in Southern California in October.

‘‘I have the utmost respect for Jack. We love to partner with people that are wicked smart, that have flexible teams, that are product based, and that push us, and we like to push them. I think Jack has a company that’s exactly like that. If we can find some areas of common space, I’d love it,’’ stated Cook.

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