Apple Inc (AAPL)’s Apple Pay Approves of Alibaba Group Holding Ltd (BABA) as Potential Partner

After Microsoft CEO Satya Nadella’a candor, it was time for Apple Inc (NASDAQ:AAPL)’s CEO Tim Cook to match up to the established standard and he definitely lived up to the expectations when he appeared for an interview at Laguna Beach in California. There were several highlights in this conversation and while the discussion focused on Apple Inc (NASDAQ:AAPL)’s latest introductions namely iWatch and Apple Pay, it also touched upon the possibility of the company tying up with Alibaba Group Holding Limited (NYSE:BABA). On Apple Pay, the CEO proudly claimed having activated 1 million credit cards over the first 72 hours of having been introduced and commented –

“That’s more than all the other guys combined. And we’re only just getting started. I’m already getting flooded with emails from customers.”

Apple (AAPL)

CNBC also covered this topic and on being asked Tim Cook reiterated the excellent response that Apple pay had received and went on to say that the whole world lay in front of them. China, in his opinion, was a truly lucrative option and one that could benefit Apple Inc (NASDAQ:AAPL) immensely if Apple Pay were embraced by the masses in this Asian country as a method of payment. About his meeting with Jack Ma, Alibaba Group Holding Limited (NYSE:BABA)’s founder and CEO, Tim Cook said –

“We’re going to talk about getting married later this week. We love to partner with people who are wicked smart.”

Alibaba Group Holding Limited (NYSE:BABA), on its part, is on the lookout for a media partner in Hollywood with whom it intends to strike content deals so that eventually the movies could be made available in the Chinese market. Although this financial venture handles more monetary transactions than eBay and Amazon combined, it does not enjoy a prominent presence in USA. To this effect, Jack Ma expressed his objective of creating a channel wherein well-known American and European brands will find their way into China over the next decade or so.

Everything seems rosy about this union except that it is the Chinese Government which may play spoil sport since it has already begun bearing down on indigenous Alibaba Group Holding Limited (NYSE:BABA) as also American Apple Inc (NASDAQ:AAPL)’s Apple Pay.

This article has been written by Vinita Basu.

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