Home Technology Alibaba Group Holding Ltd Interested In Apple Pay Partnership

Alibaba Group Holding Ltd Interested In Apple Pay Partnership

Apple Inc. (NASDAQ:AAPL)’s Pay service has impressed many, including Alibaba Group Holding Ltd (NYSE:BABA) co-founder Jack Ma. The Alibaba co-founder is so impressed that he is keen on talking to Apple CEO Tim Cook about a partnership between Alipay and the newly launched Apple Pay.

Apple CEO to meet Ma

During The Wall Street Journal Live technology conference, Ma said that he is hoping for both companies to come together, and added, “As always a good marriage needs both sides [working together.] I respect Apple and I respect Tim very much. I think he’s doing a very fantastic job.”

Alibaba, the world’s largest e-commerce company, held the largest IPO ever in the United States at $25 billion last month. The company has its own payment service called Alipay, which has more than 300 million users.

Cook also mentioned that he is planning to have a meeting with Ma later this week but gave no idea about what the companies will work on. He said that Apple likes to enter into partnerships with companies that are very smart and have product-based flexible teams. He added, “I think Jack has a company that’s exactly like that. If we can find some areas of common space, I love it. I love partnering with people like that.”

Alibaba not interested in eBay, PayPal

Alibaba is an undisputed leader in the e-commerce industry around the world, with a growth rate better than U.S. peers. The company’s revenue swelled 66% in the fourth quarter of 2013, compared to Amazon.com, Inc. (NASDAQ:AMZN)’s and eBay Inc (NASDAQ:EBAY)’s revenue surge of 22% and 14% respectively. Jack Ma denied it outright when he was asked whether he would go ahead and partner with eBay or its PayPal payment service and said, “I have my Alipay.”

Ma, however, indicated his plans for the U.S. market and said that there are great opportunities for e-commerce and people need more than just Amazon and eBay.

Apple Pay enables iPhone users to pay for goods and services at retail stores within an app for whatever is bought. Cook came on the stage after Ma and said that Apple Pay has hit more than 1 million accounts in the first 72 hours.

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