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Samsung, Alibaba’s Financial Affiliate to Cooperate on Mobile Payments

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Edward Finlay

Samsung Electronics Co. agreed with Alibaba Group Holding Ltd. s financial-services affiliate to cooperate on mobile payments, as the world s largest smartphone-maker looks to expand its presence in China, a market where it has struggled in recent years.

In a statement, the companies said Samsung s mobile payment service, dubbed Samsung Pay, will work with Alibaba affiliate Ant Financial Services Group s Alipay, which has more than 450 million active registered users.

For Samsung, which is touting Samsung Pay as a selling point for its premium devices, a tie-up with Alipay could give its service wider reach in a market it is desperate to restore its fortunes in.

For Alibaba, working with the world s largest smartphone maker could help it expand overseas, a priority for the company.

Last month, Alipay launched in Europe, and earlier this year, Alipay signed a deal with Uber Technologies Inc. to allow Chinese users to pay for rides with Alipay while traveling outside mainland China.

While Alipay is mostly used for settling online transactions, it is increasingly being accepted by brick-and-mortar retailers and restaurants around China.

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Edward Finlay
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