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Samsung Pay ties up with Alipay to lure Chinese mobile wallet users

Collected: 2016.05.20

Distributed: 2016.05.27

Source: Go Direct

[Photo by Samsung Electronics]

Samsung Pay, mobile wallet service of South Korea’s tech giant Samsung Electronics Co., teamed up with China’s largest online payment service Alipay in a bid to expand its footprint in the world’s biggest consumer market.

Starting on May 20, all Samsung Pay users in China may use Samsung Pay and Alipay concurrently on their mobile device. Alipay that started its online payment service in 2004 now has over 450 million registered users worldwide and are in partnership with more than 200 financial institutions.

Currently local Samsung Pay users in China can make payments at any retailers with credit card payment terminals throughout the country. And now, they can upload Alipay on top of their current credit and debit cards registered with Samsung Pay to make easy purchases. The partnership allows Samsung Pay access to Alipay’s 600,000 offline outlets throughout the country. The two mobile payment services also agreed to work together in advancing the mobile payment environment in China.

Samsung Pay is currently available on the Galaxy S7 and Galaxy S7 Edge smartphones, and the Korean tech company plans to add more models integrated with its mobile wallet platform.

By Lee Gyung-jin

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