A payment alliance between Apple and the Alibaba Group Holding, a Chinese e-commerce company, is in the works, according The Wall Street Journal (http://tinyurl.com/p4lwshr). Apple Pay may be embedded in Alipay, Alibab’s payment system, to operate in mainland China.
This could help tackle policy issues. In return, Apple may help Alibaba expand its business in the US. Apple and Alibaba are currently discussing the specifics of a possible partnership, says the WSJ.
“One possible scenario is for Alibaba’s financial affiliate, which owns the Alipay electronic-payment business in China, to provide back-end services for Apple’s Apple Pay payment system, allowing iPhone users to pay with Apple Pay using the money from their Alipay accounts,” the article adds.