Samsung Pay secures China deal with Alipay
20 May 2016 13:45 GMT

Biometrics-backed mobile payment service Samsung Pay has inked a partnership with Chinese ecommerce giant Alibaba’s online payment platform Alipay.

The deal means that Chinese users of Alipay, which is run by parent company Ant Financial, will now be able to use their account on eligible Samsung mobile phones with Samsung Pay.

Fan Zhiming, president of payment business unit at Ant Financial, has commented on the matter to CNBC: “Alipay covers the vast majority of online payment use cases. At the same time, it also developed a variety of offline use cases, including restaurants, supermarkets, convenience stores, taxis, hospitals and public services. The technology integration facilitated by this partnership with Samsung Electronics will make the payment process faster and more convenient when users make payments at stores where Alipay is accepted.”

Unlike Apple Pay, Samsung Pay with both NFC and traditional magnetic stripe technology.

Alipay has some 450 million users and processes 170 million transactions per day, currently relies on QR codes provided by the retailer to make physical transactions.

Samung Pay’s rival, Apple Pay, is also targeting China through a tie-up with dominant bank China UnionPay. This meant that when it launched in February it had initial support for 80 percent of all credit and debit cards issued in the country.

In other developments in the mobile payments struggle this week, Samsung Pay announced support for loyalty cards in the US and Android Pay launched in the UK.