Source: iMore
What you need to know
- Apple's iOS 14 software will bring support for AliPay.
- That could open up iOS mobile payments to more than a billion users.
- According to figures, AliPay controls a massive portion of payments in mainland China.
Apple's iOS 14 operating system will bring support to AliPay, opening up mobile payments to potentially more than a billion customers.
As reported by 9to5Mac in its iOS 14 leaks:
Another change includes AliPay support for Apple Pay with iOS 14.
AliPay is a mobile and online payment platform and is part of the Alibaba group. It's website boasts a customer base of over a billion users. It's largest userbase is mainland China, however, it also operates in Hong Kong, Japan, Singapore, and South Korea, as well elsewhere in the world.
AliPay also touts its own strong protection of its users, offering services such as full reimbursement for unauthorized and fraudulent transactions, 90-day payment protection and quick responses to customer inquiries. It supports transactions through Visa, Mastercard, Maestro, American Express and more, and claims to operate with more than 65 financial institutions, as well as nearly half a million online and local Chinese businesses.
As Apple Pay continues to grow exponentially, analysts predict that Apple Pay will account for 1-in-10 global transactions by 2025, that's all card transactions, not just contactless. A similar report claims that Apple Pay will also account for 52% of OEM transactions by 2024. The global contactless market is expected to be worth $6 trillion by 2024, as a payment facilitator, Apple will skim off the tiniest slice of every single transaction made through Apple Pay, and you can bet that AliPay support will definitely boost its revenue.
Welcome to iPhone 13 Pro (maybe)
Apple is likely to announce a new round of iPhones later this year – will one look like this?
Stunning new 2021 iMac leak reveals new design in five colors
Jon Prosser at Front Page Tech has just revealed that Apple plans to unveil brand new iMacs with a total redesign and in five new colors.
Project Triangle Strategy offers small but unique takes on the RPG genre
Square Enix's latest strategy RPG project is coming to Nintendo Switch in 2022, but you don't have to wait that long to try it out. You can download the demo right now. Here's what we think of this new IP.
Protect your iPhone 12 Pro through any adventure with a rugged case
If you work hard and play hard, you need a rugged case for your iPhone 12 Pro that will keep it safe during any type of adventure. We've got the heavy-duty cases you need to support a heavy-duty lifestyle.