Alipay Starts to Charge for Credit Card Repayments
Chinese tech giant Alipay has started to charge fees for use of the payments platform to make credit card repayments.
Alipay previously announced that starting from 26 March any credit card repayments made via Alipay in excess of the complimentary monthly amount of 2000 yuan per user will incur a services fee of 0.1%.
The complimentary monthly amount will be provided at the very start of each calendar month, and cannot the transferred to subsequent months.
The new services fee will also apply to credit card repayments made via the Alipay app using money from the Yu’e Bao money market fund.