Home
Internet
Internet News
Apple Said to Be in Talks With Alibaba to Launch Apple Pay in China

Apple Said to Be in Talks With Alibaba to Launch Apple Pay in China

By Reuters | Updated: 12 May 2015 09:55 IST

Click Here to Add Gadgets360 As A Trusted Source

Apple Inc is in talks with Chinese banks and Alibaba Group Holding Ltd on launching the firm's mobile payments system in China, Chief Executive Tim Cook told the official Xinhua news agency in an interview published on Tuesday.

"We very much want to get Apple Pay in China," Cook told Xinhua during a visit to the country. "I'm very bullish on Apple Pay in China."

Apple could not immediately be reached to comment on the report.

Apple Pay, which allows consumers using Apple devices to buy goods by holding the device up to readers installed by store merchants, was launched in the United States last September and quickly began to handle more transactions than all other "contact less" payment methods combined, Apple said.

Cook said he believed it could take off even faster in China.

Alibaba executive chairman Jack Ma said in October that the Chinese e-commerce giant was open to working with Apple on Apple Pay. Alibaba affiliate Alipay is China's largest payments service.

Analysts expect China to take over the Americas to become Apple's biggest market. In the first three months of the year, for the first time, Apple sold more iPhones in China than in the United States.

The firm hopes to keep adding stores in China, where it aims to have 40 by next year, from 22 currently, Cook told Xinhua.

Cook's China visit was to focus on Apple Pay's entry as well as environmental initiatives to protect forests, he added.

© Thomson Reuters 2015

Comments

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.