Alipay to impose fees on credit card payments

Thursday 21 February 2019 14:36 CET | News

Alibaba`s payment arm Alipay has announced it will start charging a fee on credit card repayments starting from March 2019.

The government’s tightening regulatory control over the payment industry, which is aimed at reducing financial risks, has had a significant impact on platforms’ revenue streams.

From 26 March 2019, Alipay will start charging 0.1% on monthly repayments in excess of RMB 2,000 (around USD 300). This move comes amid rising operational costs and tightening regulation.

The fee will not be applied to credit card bills below the monthly threshold, while users that exceed it will be able to use their membership points to increase the quota without incurring fees.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Alipay, China, fees, credit card payments, repayments, cards, Alibaba
Countries: World

Industry Events