Tencent to charge fees for WeChat transfers
Print Edition
Users of Tencent’s WeChat pocket money will have to pay an extra commission for transfer of amounts over 1,000 yuan (US$154) into their debit cards from March 1.
Tencent said users will pay 0.1 percent commission of the total transfer amount if it exceeds the 1,000 yuan free allowance, with a minimum charge of 0.10 yuan.
Tencent said the move is to better optimize its capabilities to support small-sum transfers between WeChat accounts, which would be free of charge. It added that the charge would be used to offset the commission fee charged by banks, without specifying the exact amount.
Independent technology observer Xie Pu said Tencent’s focus is to promote its wealth-management platform.
Wealth-management products on the WeChat platform that are paid by debit cards would not be affected by the new rules.
The move by Tencent stirred mixed views.
“I will ask my friends to transfer money to my Alipay accounts or bank accounts since that would be much easier,” said Doris Tao, a Shanghai resident in her early 30s.
Others don’t think it’s a problem at all. Shanghai office worker Crystal Xu said she wouldn’t mind using her WeChat account balance to pay for credit card bills or public utility fees.
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