Alipay implemented small and micro businesses to reduce fees, officially implemented in August 1st.

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In July 27th, the interface news was informed that Alipay announced the details of the fee reduction for small and micro businesses: in the next three years (to September 30, 2024), for all Alipay merchants, the cash withdrawals will continue to be free, and there will be no single and upper limit for free cash. Small and micro enterprises, individual industrial and commercial households and individuals with business activities that meet the standards can receive a 10% discount on online payment service fees from August 1.
On June 25 this year, the people’s Bank of China, the China Banking and Insurance Regulatory Commission, the development and Reform Commission and the State Administration of market supervision put forward the requirement of “encouraging banks and other payment entities to continue to reduce handling charges”. According to the announcement of Alipay, the object of collecting money is free of charge. The online payment service fee is 10% off. The preferential objects are small and micro enterprises, individual industrial and commercial households and individuals with business behavior that meet the standards.