download.jpg (Photo : Reuters)
Alibaba Group, the Chinese e-commerce juggernaut, is talking with Apple Inc. about introducing ApplePay, a smartphone payment platform, to China.
According to Alibaba founder Jack Ma, Alipay can be integrated with the ApplePay system and then introduced to China.
Cai Chongxin, vice chairman of Alibaba, said that the discussions with Apple are turning out to be great, with the Chinese firm already anticipating ApplePay to be brought to China in the near future.
Cai also said that Alibaba is looking forward to integrate ApplePay and Alipay for the Chinese market.
According to the co-op plan, Alipay will be giving ApplePay backend technical support, but Alibaba is also expecting the integration of the two payment platforms' financial systems, said Cai.
Recently, the Alibaba founder voiced out his desire to work with Apple in the sector of mobile payment systems during a technology forum; CEO Tim Cook of Apple showed similar interests.
Last month, the ApplePay system was introduced to the public. The mobile payment platform is compatible with Apple's iPhone 6 and the bigger iPhone 6 Plus. It is also compatible with Apple's newest device, the Apple Watch.
Several market analysts are watchful with how the integration of ApplePay will turn out, as online payment transactions in China still run through third-party services.
ApplePay is already supported by several retailers and stores in the United States. Visa, Mastercard and American Express are among the big names that work with Apple's mobile payment platform.
