As Samsung looks to increase
and enhance its presence in China, the electronics manufacturer has gone into
partnership with China’s Top e-Commerce brand, Alibaba.
In
a statement, Samsung said the deal will allow Samsung Pay, the company’s mobile
payment system, to work with Alipay, Alibaba’s financial affiliate, adding that
Alipay has more than 450 million registered users in China.
With this move, Samsung Pay
users can now link their Alipay accounts and make payments with the service’s
NFC and MST technology to checkout at retail stores. They can also access
Alipay’s QR codes through the Samsung Pay.
The partnership is
expected to expand the reach of Samsung Pay, which has been available in China since
March under a partnership with China UnionPay.
According to Credit Suisse
(www.credit-suisse.com) , Alipay handles an estimated 58% of all online
payments in Chin. , emphasising the hard battle that Samsung faces as
competition for mobile payments increases in the world’s biggest smartphone
market.
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