Apple brings Alibaba-linked payment system into China stores

World
Europe

Apple will accept Chinese mobile payment app Alipay in its local stores, boosting its ties with giant e-commerce firm Alibaba amid a push by the iPhone maker to revive growth in the world’s second-largest economy.

The tie-up will make Alipay, run by Alibaba affiliate Ant Financial, the first third-party mobile payment system to be accepted at any physical Apple store worldwide, Ant Financial said in a statement on Wednesday. Apple’s own payment system has had a lukewarm reception in China.

CGTN screenshot of Alipay's post on Weibo announcing the tie-up with Apple.

The Cupertino-based firm will accept Alipay payment across its 41 brick-and-mortar retail stores in China, said Ant Financial, which was valued at 60 billion US dollars in 2016.

Apple, whose China website, iTunes store and App Store have been accepting Alipay for more than a year, did not immediately respond to requests for comment.

The deal comes as Apple is doubling down on the market and looking to strengthen ties with local Chinese partners and government bodies. The firm’s CEO Tim Cook has made regular recent visits to the country.

iPhone cases./VCG Photo

Alipay is China’s top mobile payment platform but faces stiff competition from rival Internet giant Tencent’s payment system that is embedded within its hugely-popular chat app WeChat.

Source(s): Reuters