jeudi 3 mars 2022

WeChat Pay Fees in China is changing


Chinese social media giant Tencent Holdings Ltd is slashing transaction fees by 10% for small and medium merchants using its WeChat payment system, the company said in a statement on Thursday.

The discounts will apply from September 1, 2021 and run until September 30, 2024, the company added.

In order to qualify for the discount, merchants must meet the classification standards for small and medium enterprises set by China's Ministry of Industry and Information Technology.

The company will also reduce fees on money withdrawals from users' bank accounts, according to the statement.

The policy follows similar moves by Chinese tech companies last week.

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