Tag: canada

Apple and Alibaba may be partnering on mobile payments

| May 15, 2015

Apple and Alibaba are in talks about expanding Apple Pay to China

A new partnership that could have a significant impact on the mobile payments space may be taking form. Apple and Alibaba are reportedly in talks to team up on the matter of mobile payments. Apple is also in negotiations with Chinese banks in order to make mobile payments possible for iOS  users in China. According to Apple CEO Tim Cook, the company is very eager to bring Apple Pay to China.

China continues to thrive as a mobile market

China is home to one of the fastest mobile payment sectors in the world. Alibaba has been pushing to expand the mobile payments space throughout the country. The company launched its own payments service called Alipay, which is the leading payment platform for mobile consumers in the country. Alibaba has been making strategic partnerships with various companies to make mobile shopping and payments easier for consumers.

Apple Pay may soon expand beyond the United States

Company News - Apple and Alibaba my form mobile payments partnershipApple Pay launched in October of last year, but is currently only available in the United States. Apple is looking for ways to expand the service into other markets, such as Canada and the United Kingdom. China may become the next market that Apple expands its mobile payments service into, and the country could become a major victory in Apple’s ongoing mobile payments fight. Apple will have to work with Chinese banks in order to make expansion possible, however, which could be a complicated matter as many banks have already sided with Alibaba concerning mobile payments.

Alibaba continues to show dominance in the mobile payments space

Alibaba is currently the largest supporter of mobile payments in China. The company has been competing with several others in order to maintain its position in the market and has managed to succeed in this endeavor. A deal with Apple to bring Apple Pay to China could be a boon for Alibaba, as it is also one of the largest Internet retailers in the country. Supporting multiple forms of mobile payments has proven to be a practice that is supported by consumers.

Apple’s mobile payments service may be coming to Canada

| April 22, 2015

Apple Pay could launch in Canada by the end of the year

Apple Pay may finally be ready to expand beyond the U.S. market. Recent reports suggest that Canadian banks have been in negotiations concerning Apple Pay and, if successful, these negotiations could bring the mobile payments service to Canada by the end of this year. The service has managed to gain popularity in the United States market because of its convenient nature and security features. The demand for mobile payments services like Apple Pay has been on the rise in Canada for some time.

Those with newer iOS devices will be able to use Apple Pay

If Apple Pay launches in Canada, iOS users in the country will be able to use the service to pay for products in physical stores that support  mobile payments and online. The problem, however, is that the service is only compatible with the latest version of the iPhone: The iPhone 6 and iPhone 6 Plus. While iOS fans are often quick to purchase the latest iteration of the iPhone, many consumers do not have these devices, which will leave them outside of the reach of Apple Pay until they purchase new devices.

Banks have concerns regarding Apple Pay fees

Apple Pay - Mobile Payments CanadaThough banks are showing interest in Apple Pay, they have also expressed concerns regarding Apple’s fee proposals and how to set up the mobile payments service securely. Apple Pay uses biometric technology to secure transactions. Users have to register their fingerprint through their iOS device in order to authenticate payments. Because of this, the service is considered quite secure, but Apple imposes fees on all transactions made through the service, which may be a point of contention for some merchants and banks.

Apple will find competition in the Canadian market

If the security and monetary concerns of banks are resolved, Apple Pay is likely to launch in Canada by the end of 2015. It will not be the only mobile payments service available in the country, of course, as there are many startup services that have launched in Canada over the past few years. Other companies, such as Samsung, also have plans to launch their own payment platforms, which they plan to bring to Canada as well.