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May 12, 2015updated 04 Apr 2017 4:03pm

Apple in talks with Alibaba to bring Apple Pay to China

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.

By Verdict Staff

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.

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.

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

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