Mobile banking platform Alipay has announced that it will be charging a certain percentage of service fees for users who are paying off their credit cards.
The new service charge will be implemented from March 26 onwards. However, the new fees will not be applicable for users who are paying up to 2,000 yuan ($299) per month.
In the announcement, Alipay revealed that these new fees are due to the rising costs implemented by banks for such services. We Chat Payment, Alipay’s rival, has started to charge a service fee for credit card payments.
The service charge is estimated to be about 0.1%.