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Singles’ Day: Alibaba breaks sales record with more than $17 billionNovember 17, 2016Chinese e-commerce leader Alibaba broke its one day sales record “Singles’ Day” (November 11th) with more than $17 billion by the end of the day, 82% of total sales were made through wireless devices.
Samsung’s Alipay partnership marks real entry into China’s mobile payments marketMay 25, 2016Samsung Pay is currently only available for a limited range of recent high-end Samsung smartphones and so has a much smaller addressable market than the device agnostic Alipay. Apple Pay has also recently launched in China; IHS estimates that there are round seven times more active Apple Pay smartphones in China than those that support Samsung Pay. Both Apple and Samsung’s addressable audience is dwarfed by their bigger domestic Chinese rivals. Samsung Pay’s strategy shows that it needs to partner with potential competitors to gain user adoption and is a significant step to further extend its availability among Chinese users.
Alipay’s Next Step: Matchmaking European Merchants and Chinese TouristsApril 12, 2016Travelling abroad is becoming a fashion in China. According to China National Tourism Administration 120 million Chinese tourists spent $215 billion abroad in 2015, a 53% increase in expenditure compared to 2014. This ‘moving country’ formed by 120 million tourists, paves the ways of Alipay’s expansion to Europe. The payments service and customised location features will help Alipay gain adoption by bringing benefits for both Chinese travellers and European merchants...
Samsung Pay’s magnetic tech is not enough to win ChinaApril 04, 2016Samsung will now be available in China. As with Apple and Google’s mobile payments services, Samsung Pay works with NFC terminals. However, unlike the other services, Samsung Pay is also compatible with existing magnetic stripe readers. Samsung’s cooperation with card-processor China UnionPay was an important step to extend the acceptance and provide convenient mobile payments service to its users. But it’s just the beginning of entering into the competition with WeChat and Alipay...
Google plans Android Pay UK launchMarch 29, 2016In order to maximise its adoption by UK users, it is integral that Android Pay has a solid foundation of supporters upon launch of the service. These supporters include financial institutions, retailers, and payment platforms. Regarding the retailers, Android Pay will be available everywhere that contactless payments are accepted, such as Costa, Starbucks, Waitrose, and Boots. Significantly...