Alibaba Group Holding's online payment arm Alipay on Monday lowered the service charges for merchants that settle transactions via its platform.
Most small and micro merchants, excluding sectors such as lotteries and consumer electronics, now will be charged about 0.6 percent of their turnover by Alipay, according to a press release issued by Alipay.
"The current commission rate is lower than that was the past," Zhang Daosheng, an Alipay spokesman told the Global Times on Monday, noting that it also unified and simplified its charging system. The reduction is expected to benefit at least 1 million small and micro businesses.
