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CORRECTED-Samsung to partner with Alibaba affiliate on mobile payments in China

Published 2016-05-20, 03:04 a/m
© Reuters.  CORRECTED-Samsung to partner with Alibaba affiliate on mobile payments in China
AAPL
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(Corrects headline and text to clarify that Ant Financial is an
Alibaba (NYSE:BABA) affiliate)
SEOUL, May 20 (Reuters) - Samsung Electronics 005930.KS
said it had struck a deal with an Alibaba Group Holding BABA.N
affiliate for owners of its phones to be able to more easily
make payments with Alipay accounts - a move it hopes will boost
sales in the world's biggest smartphone market.
Users of Samsung Pay will also have the option of paying
with their Alipay accounts without having separately access the
Alipay application. Alipay, which is operated by Alibaba
affiliate Ant Financial Services Group ANTFIN.UL , has 450
million active registered users.
Samsung, the world's top smartphone maker, launched its own
mobile payment system, Samsung Pay, in China in March, about one
month after Apple Inc AAPL.O launched Apple Pay.
But Alipay's dominant position has meant that it will be
difficult for any latecomers in mobile payments to gain
significant ground just on their own.
Samsung has been losing out to Chinese rivals Huawei
Technologies Co HWT.UL and Xiaomi Inc XTC.UL as well as
Apple and no longer ranks among the top five smartphone brands
in China, according to market researcher Strategy Analytics.

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