News Snapshot:
Chinese web giant Tencent has reduced transaction fees for small and medium-sized enterprises using its WeChat payment system by 10%, the company announced on Thursday. The move is a “proactive answer” to the government’s call on lowering operational costs for SMEs as well as individual merchants, Tencent wrote in its announcement, that was also published via WeChat. It started in September 2021, and will continue until September 2024. The fee reduction applies to all companies classified as SMEs by China’s Ministry of Industry and Information Technology. Individual merchants approved and recognized by regulators will also benefit, according to the announcement....
