Last year, the People’s Bank of China and other four ministries and commissions issued a notice on reducing the payment fee for small and micro merchants, requiring that it be implemented from September 30, 2021.
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Subsequently, industry associations such as the China Payment and Clearing Association also issued a fee reduction initiative. Today, Alipay said that it took the lead in responding and implemented the fee reduction policy two months in advance.
From August 1, 2021, on the basis of the original free cash withdrawal, it will add new fee reduction measures such as discounts on online payment service fees. For more than half a year, it has reduced operating costs by nearly 5 billion for small and micro-merchants.
Moreover, Alipay pointed out that this year will continue this series of fee reduction policies for small and micro merchants, including:
1. For all Alipay collection code users (including personal business collection code users), the collection code will continue to be free until September 30, 2024. There is no single limit and single-day limit for free withdrawal, and there is no need for users to apply for additional, which can be directly deducted.
2. For small and micro enterprises that comply with the Ministry of Industry and Information Technology’s “Regulations on the Classification of Small and Medium-Sized Enterprises”, individual industrial and commercial households registered with the market supervision department, and individuals with business behaviors, continue to do a good job in reducing fees in accordance with current policies. Its online payment service fee on the Alipay platform is 10% off the current standard.
