Category: Mobile Payments

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 may be working on updating its mobile payments service

| May 14, 2015

Apple Pay 2.0 could become a reality

Apple Pay is only a few months old, but Apple may already be working on a new iteration that will have new features that could benefit consumers and merchants alike. The mobile payments service was released in October of last year and quickly became an attractive option for merchants interested in engaging mobile consumers. Apple Pay won praise for its ability to gain significant support from retailers, but the service has yet to find mainstream success among consumers.

Analysis predicts new upgrades to the Apple Pay service

An updated Apple Pay may come into being in the relatively near future. Apple is looking for ways to improve its position in the mobile payments space, and adding new features to its payment service may be the best way to do so. According to analysis from the Jefferies Group, an investment firm, Apple Pay 2.0 could be a major improvement on the current iteration of the mobile payments service. Apple Pay 2.0 would include new features for merchants, including direct shopper incentives, which may allow retailers to better engage mobile consumers.

Better security features may make consumers more comfortable with mobile payments

Mobile Payments - Apple Working on UpdateThe service may also have upgraded security features, which will further augment Apple Pay’s already considerable security. The service makes use of biometric technology, using a fingerprint to protect consumer information and authenticate transactions being made from a mobile device. Other features are expected to be introduced that will help Apple Pay compete with new mobile payments platforms. These features have not yet been identified, however.

Competition continues to increase in the mobile payments space

Mobile payments has become a very competitive market, with consumers showing interest in the ability to shop for and purchase products with their mobile devices. No single mobile payments platform has managed to find universal acceptance among consumers, but some platforms have fared better than others. Apple Pay is one of the services that consumers have come to appreciate, but the service is only available to iOS users, which account for a relatively small portion of the mobile payments market.