“Alibaba Group Holdings Ltd. executive chairman Jack Ma said he’s open to working with Apple Inc. on mobile payments, as China’s richest person prepares to call on Hollywood this week in search of media partners,” Deepa Seetharaman reports for Reuters. “Alibaba affiliate Alipay is China’s largest payments service, while Apple just this month debuted its own version of a mobile wallet, letting iPhone 6 users make payments at retailers with their smartphones.”
“Ma told a Wall Street Journal Digital Live conference on Monday that he has tremendous respect for Apple CEO Tim Cook,” Seetharaman reports. “‘I hope we can do something together,’ he said when asked if Alipay and Apple Pay might tie up.”
“Alibaba, which handles more e-commerce transactions than Amazon.com Inc. and eBay Inc. combined, does not have much of a presence among American retail customers and Ma said his focus for now was on serving his Chinese clientele,” Seetharaman reports. “Ma added that he wanted to work on selling American and European products to China, reversing the typical flow of goods over the past 10 to 15 years.”
Read more in the full article here.
MacDailyNews Take: Alibaba handles more e-commerce transactions than Amazon.com Inc. and eBay Inc. combined and would like to increase its presence in American retail. Gee, wonder who could help them with that?
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Its news like this that really shows how totally pathetic the CVS, Rite Aid decisions truly are. Its a big world out there and those who understand that even when they are operating within a home market are the ones who will prosper or get eaten by competitors they haven’t even heard of yet. Even Apple can’t go it alone on that stage so some provincial digital payment service hasn’t a chance in hell.
This is amazing news, a new dynamic duo team. For all those individuals blasting Tim Cook for one reason or another here’s to the “nice guy” finishes first. Jack ain’t too shabby either.