Apple making progress in forming alliance between Apple Pay and Alibab’s Alipay in Chinese marketplace
Date: Tuesday, November 11th, 2014, 10:58
Category: Finance, News, retail
While Apple may be spinning its wheels arguing with MCX and getting Apple Pay supported by assorted U.S. retailers stuck in their MCX/CurrentC contracts, it seems to be doing ok opening Apple Pay up in the Asian marketplace.
According to AppleInsider and the Wall Street Journal, after officials from both Apple and Alibaba publicly expressed interest in forging a possible mobile payment deal, Alibaba confirmed on Tuesday that it is currently in negotiations to bring Apple Pay to China.
A potential deal between Apple Pay and Alibaba’s Alipay would focus exclusively on the Chinese market, where Alibaba is the dominant online retailer, vice chairman Joseph Tsai told The Wall Street Journal. He said that while the company is “positive” about the ongoing talks, details must still be worked out before an agreement can be reached.