Samsung Pay deepens involvement in China with Alipay partnership
Every time you think Apple Pay deals Samsung Pay a death blow, the Galaxy phone-compatible digital wallet service claws its way back in contention for the rapidly flourishing market’s crown, adding China availability to Korea and the US, offering the sweetest discounts, spreading to more and more banks, and working with various membership and loyalty cards stateside.
But possibly its biggest coup yet sees the NFC and MST-enabled mobile payment app precede its arch-rival on the Alipay support bandwagon. Yes, starting today, users of the leading third-party payment platform in China can bring their Alipay accounts to the S7, S7 Edge, S6 Edge+, Note 5, A5 (2016), A7 (2016), A9 (2016), or A9 Pro, and enjoy the combined benefits of both services.
Launched over a decade ago and developed by tech mammoth Alibaba Group, Alipay lets its more than 450 million “active registered” customers scan QR codes from their phones at the registers of around 600,000 brick-and-mortar merchants. The platform covers 200+ financial institutions, and is also accepted in over one million taxis, as well as in hotels and cinemas.
Meanwhile, Samsung Pay comes with the added perks of “simplicity, safety and convenience”, not to mention far more advanced technology, struggling however with adoption in a country that remains adverse to foreigners.
It’s easy to understand therefore why a coalition makes perfect sense, helping Alipay widen the gap to local enemy WeChat from Tencent, and Samsung stick it to Apple where it hurts the most.
Source: Samsung Newsroom