Samsung announced today that it has cemented a deal that will make Alipay, China s largest online payments platform, available through Samsung Pay.
The partnership, made between Samsung Electronics and Ant Financial, the Alibaba financial tech affiliate that owns Alipay, is important because Alipay is one of the most formidable rivals mobile payments like Samsung Pay and Apple Pay face as they tackle the Chinese market.
Alipay, which claims about 450 million active registered users, launched the Alipay Wallet smartphone app, which stores credit card and coupon information and can be used for offline payments, back in 2013.
The deal hasn t been announced yet, but the popularity of iPhones in China—they still hold about a 14.6 percent market share, despite competition from Android rivals like Huawei and Xiaomi—means it would not be surprising if one was announced soon, too.
In a press statement, Fan Zhiming, the president of Ant Financial s payment business unit, said the partnership will allow Alipay to expand its reach beyond e-commerce:
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.