Alibaba`s Jack Ma is open to work with Apple on payments

Alibaba Group Holdings Ltd executive chairman Jack Ma

Laguna Beach(California), Oct 28: Alibaba Group Holdings Ltd executive chairman Jack Ma, who is now China’s richest person, said he’s open to working with Apple Inc on mobile payments, as he gears up to call on Hollywood this week in search of media partners.

Alibaba affiliate Alipay is China’s largest payments service, while Apple just this month debuted its own version of a mobile wallet, letting iPhone 6 users make payments at retailers with their smartphones.

Ma told a Wall Street Journal Digital Live conference on Monday that he has tremendous respect for Apple CEO Tim Cook.

When asked if Alipay and Apple Pay might tie up, he said: “I hope we can do something together.”

Ma, who amassed a fortune estimated at $25 billion partly through his stake in recent market debutante Alibaba, is a frequent visitor to the United States. This week, he plans to visit a number of Hollywood studios, reportedly to strike up content deals.

Ma said: “I want to come here looking for partners,” and added that China will eventually become the world’s largest movie market.

Alibaba, which handles more e-commerce transactions than Inc and eBay Inc combined, does not have much of a presence among American retail customers and Ma said his focus for now was on serving his Chinese clientele.

Ma is reportedly willing to work on selling American and European products to China, thereby, reversing the typical flow of goods over the past 10 to 15 years.

(With Reuters Inputs)


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