Samsung Elec, Alibaba to team up on mobile payment systems: media

Samsung Electronics and Alibaba Group Holding plan to announce a collaboration on mobile payment systems on Friday, South Korean media reported.


Samsung Electronics and Alibaba Group Holding plan to announce a collaboration on mobile payment systems on Friday, South Korean media reported. Under the tie-up, Samsung Electronics plans to allow its smartphone customers to use Alipay, the online payment platform run by a unit of Chinese e-commerce giant Alibaba, media reports said on Thursday.

Samsung has been trying to push in to the mobile payments industry with it's offering Samsung Pay. The company faces an uphill battle to capture the market with stiff competition from Apple and Google with their offerings Apple Pay and Android Pay already present. The main problem to capture the market is the geo-limitation put by all the companies. Most of the payment services from Apple, Google and Samsung are limited to a handful of countries.

The limited reach of such services hinders widespread adoption of the services. Samsung is hoping to gain traction in the growing Asian Market with this deal with Alibaba. A Samsung Electronics spokeswoman declined to comment.

With inputs from Reuters

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