Regulators last month issued guidance for online food delivery platforms to reduce service fees to help to lower operating costs for catering businesses, in order to promote a faster recovery from the pandemic in the services sector. SeptemBLOG Alipay, merchant fee, WeChat Pay Both WeChat and Alipay fees for Merchants has been gaining rapid popularity during recent times. The changes broadly come after authorities launched a wave of regulatory tightening across a range of industries in China, with the consumer internet sector a frequent target. On Wednesday, Ele.me, the food delivery service run by e-commerce giant Alibaba Group Holding Ltd (9988.HK), announced it would reduce its commission fees for merchants in areas affected by COVID-19.īefore that, rival delivery giant Meituan (3690.HK) also said it would reduce its commission. Even when transferring through third-party payment methods, the fee is still there, Alipay or WeChat just pay it for you. Alipay is the other major e-payment system in China. You can now use WeChat Pay to make purchases and from right within the app, you can hail rides, order food, make utility payments, and more. The policy follows similar moves from Chinese tech companies this past week. WeChat charges a 0.1 commission when you make a withdrawal. The company will also reduce fees on money withdrawals from users' bank accounts, according to the statement. of your WeChat Pay accounts exceeds RMB50,000, or, if in foreign currency. ![]() In order to qualify for the reduction, merchants must meet classification standards for small and medium-sized businesses by China's Ministry of Industry and Information Technology. 1.1 WeChat Pay service refers to the money transfer service provide by the. Eligible for Stored Value Facility license (No. The reductions will apply beginning Sept. Publicize products via WeChat Official Accounts to drive in-app purchases. SHANGHAI, March 3 (Reuters) - Chinese social media giant Tencent Holdings Ltd (0700.HK) will reduce transaction fees for small and medium-sized merchants using its WeChat payments system by 10%, the company said in a statement on Thursday.
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