Apple is in discussions with Chinese banks and Alibaba Group to bring its mobile payments system, Apple Pay, to China, Apple CEO Tim Cook told the Xinhua News Agency in an interview.

The service, which was launched in the US in September 2014, enables consumers using Apple devices to buy goods by holding the device up to payment readers installed by store merchants.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Alibaba executive chairman Jack Ma said in October last year that Alibaba was keen to work with Apple on Apple Pay.

Cook added that the firm is planning to add stores to China, where it expects to have 40 by next year from 22 currently.

Last month, Apple said that more iPhones were sold in China than in the US for the first time.

"We very much want to get Apple Pay in China," Cook told Xinhua.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The news agency said that infusing Apple Pay’s NFC and Touch ID technology into Alipay as a cobranded product would benefit both companies.