Alipay announces extension of fingerprint function to iOS devices
Apple’s business strategies are flooding the virtual world. The brand is flying even higher after its latest iPhone 6 and 6 Plus claimed a hysterical business. However, Apple isn’t looking to compromise with is brand image in no way.
The latest announcement from China’s e-commerce giant Alibaba Group Holding Ltd. says that now Alipay users will be able to use fingerprint security feature for transactions on iOS devices.
Of course, Apple Pay is a new comer in e-commerce world and it need to crawl its feet into foreign markets. China is a huge e-commerce market and Apple Pay has not yet received a license to operate in China, so this collaboration with Alipay is going to make iOS devices friendlier to Chinese e-commerce consumers. Jack Ma and Tim Cook, leaders of respective firms had been working on some sort of alliance between Apple Pay and Alipay.
Finally, something solid has manifested for both of them. According to Alipay release, iPhone 5s , 6 and Plus 6 users will be allowed to activate their fingerprint payment function as soon as they upgrade the Alipay Wallet app to version 8.4.
Wang Weidong, a third-party payment analyst with iResearch Group, said: “Teaming up with Alipay gives Apple Pay an option to operate in China. It is possible when people use Apple Pay on iPhones, Alipay could provide back-end service, so that the money they use comes from their Alipay accounts.”
Biometric technologies are more promising in matters of security of online transactions. Further, Alipay enjoys lesser popularity outside China, and an alliance with Apple Pay would facilitate Chinese consumers buying from US market.
Neil Flynn, head equity analyst at Shanghai-based Chineseinvestors.com, a leading financial analysis firm of US-listed Chinese companies, states:
“On the other hand, despite its popularity, iPhone faces strong rivalry from both Samsung and China’s domestic manufacturers such as Xiaomi. By teaming up with Alipay, the iPhone is now a more convenient tool for Chinese consumers. In addition, I would imagine that Apple would profit from payments made through Alipay on the iPhone, so it gives Apple access to Chinese consumers”.
That’s a win-win situation for both, Apple Pay and Alipay, but it’s not all. It appears to be a beginning of long term relation between these two.