Apple-Alibaba Tie-Up to Bring Apple Pay to China?

Thursday, May 14, 2015

Apple is in talks with Alibaba to bring its mobile payments system to China, according to an interview with Chinese news agency Xinhua.

Apply Pay – which allows users to hold up their iPhone to a reader and pay for items – was launched in the U.S. last September and has seen“great momentum,” CEO Tim Cook said last month.

But now the Cupertino, CA-based giant wants to expand the payment system to China — the company’s second-biggest market by revenues.

“We very much want to get Apple Pay in China,” Cook told Xinhua in an interview published late Monday. “I’m very bullish on Apple Pay in China.” (Tweet this)

China has become a crucial market for Apple and it is now selling more iPhones in the country than in the U.S. The American company has also eclipsed domestic rival Xiaomi to become the biggest smartphone player in China. (Tweet this)

Apple was not immediately available for comment when contacted by CNBC.

Source: CNBC (link opens in a new window)

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digital payments, mobile money