While Apple is still waiting on approval in China to make Apple Pay available in that country, Alipay has open a door that will see over 300 million users in China being able to use TouchID.
Alipay is a payment affiliate of major Chinese site Alibaba. To do this, Alipay has updated its popular e-payments app to include support for Touch ID on iOS devices, thereby “allowing users to authenticate accounts and authorize Alipay payments on compatible iPhone models without the need of a password. The new Touch ID integration will be available on the iPhone 5s, iPhone 6, and iPhone 6 Plus for Alipay’s users” according to Macrumors
Reports are that Apple CEO Tim Cook and Alibaba CEO Jack Ma met this year to talk about an Alipay + Apple Pay partnership. This we believe is the first step of Apple mobile payment system being introduce in the Chinese market.
A partnership between the two companies will be beneficial to both as Alibaba will be able to bolster Alipay’s presence in the international market (users in other markets will be able to download the Alipay app to pay for goods using their iPhone) as well as allowing Apple to get a bigger share of the Chinese market.
“By teaming up with Alipay, the iPhone is now a more convenient tool for Chinese consumers. In addition, I would imagine that Apple would profit from payments made through Alipay on the iPhone, so it gives Apple access to Chinese consumers,” said Flynn, who has been following Alibaba’s development for several years.