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In 2016, [[WeChat]] started a service charge if users transferred cash from their WeChat wallet to their debit cards.[{{Cite web |title=WeChat to charge fees for digital wallet transfers to bank accounts |url=https://www.chinadaily.com.cn/bizchina/tech/2016-02/16/content_23501742.htm |url-status=live |archive-url=https://web.archive.org/web/20260304060149/https://www.chinadaily.com.cn/bizchina/tech/2016-02/16/content_23501742.htm |archive-date=March 4, 2026 |website=ChinaDaily}}] On 1 March, WeChat payment stopped collecting fees for the transfer function. Starting from the same day, fees will be charged for withdrawals. Each user had a 1,000 Yuan (about US$150) free withdrawal limit. Further withdrawals of more than 1,000 Yuan were charged a 0.1 percent fee with a minimum of 0.1 Yuan per withdrawal. Other payment functions including red envelopes and transfers were still free.[{{cite web|title=The Truth About The New WeChat Service Charge|url=http://chinachannel.co/new-wechat-service-charge/|date=18 February 2017|access-date=11 February 2017|archive-url=https://web.archive.org/web/20171023011203/https://chinachannel.co/new-wechat-service-charge/|archive-date=23 October 2017|url-status=live}}] In contrast, Alipay owned by Alibaba Group, in October 2016, charged Chinese users for money transfers made to personal bank accounts. Individual users will need to pay a fee of 0.1 percent on digital transfers to bank accounts if the total amount exceeds 20,000 yuan. The company said in a statement on Monday that the minimum fee per transfer will be set at 0.1 yuan. The new development comes in order to cover operating costs that are rising. When compared to WeChat, Alipay offered higher free limits. Currently, both platforms offer tiered limits with some small updates.[{{Cite web |title=Alipay to charge for transfers to personal bank accounts from October |url=https://www.scmp.com/business/article/2018681/alipay-charge-transfers-personal-bank-accounts-october |url-status=live |archive-url=https://web.archive.org/web/20250724001112/https://www.scmp.com/business/article/2018681/alipay-charge-transfers-personal-bank-accounts-october |archive-date=July 24, 2025 |website=South China Morning Post}}] |
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In 2016, [[WeChat]] started a service charge if users transferred cash from their WeChat wallet to their debit cards.[{{Cite web |title=WeChat to charge fees for digital wallet transfers to bank accounts |url=https://www.chinadaily.com.cn/bizchina/tech/2016-02/16/content_23501742.htm |url-status=live |archive-url=https://web.archive.org/web/20260304060149/https://www.chinadaily.com.cn/bizchina/tech/2016-02/16/content_23501742.htm |archive-date=March 4, 2026 |website=ChinaDaily}}] On 1 March, WeChat payment stopped collecting fees for the transfer function. Starting from the same day, fees will be charged for withdrawals. Each user had a 1,000 Yuan (about US$150) free withdrawal limit. Further withdrawals of more than 1,000 Yuan were charged a 0.1 percent fee with a minimum of 0.1 Yuan per withdrawal. Other payment functions including red envelopes and transfers were still free.[{{cite web|title=The Truth About The New WeChat Service Charge|url=http://chinachannel.co/new-wechat-service-charge/|date=18 February 2017|access-date=11 February 2017|archive-url=https://web.archive.org/web/20171023011203/https://chinachannel.co/new-wechat-service-charge/|archive-date=23 October 2017|url-status=live}}] In contrast, Alipay owned by Alibaba Group, in October 2016, charged Chinese users for money transfers made to personal bank accounts. Individual users will need to pay a fee of 0.1 percent on digital transfers to bank accounts if the total amount exceeds 20,000 yuan. The company said in a statement on Monday that the minimum fee per transfer will be set at 0.1 yuan. The new development comes in order to cover operating costs that are rising. When compared to WeChat on the basis of services charges, Alipay offered higher free limits. Currently, both platforms offer tiered limits with some small updates.[{{Cite web |title=Alipay to charge for transfers to personal bank accounts from October |url=https://www.scmp.com/business/article/2018681/alipay-charge-transfers-personal-bank-accounts-october |url-status=live |archive-url=https://web.archive.org/web/20250724001112/https://www.scmp.com/business/article/2018681/alipay-charge-transfers-personal-bank-accounts-october |archive-date=July 24, 2025 |website=South China Morning Post}}] |
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In 2019 it was reported that [[WeChat]] had overtaken Alibaba with 800 million active WeChat mobile payment users versus 520 million for Alibaba's Alipay.[{{cite web|url=https://www.ft.com/content/e79b1a78-3afd-11e7-821a-6027b8a20f23|title=Tencent scores with domination of mobile gaming|last=Yang|first=Yuan|date=18 May 2017|website=FinancialTimes|page=15|language=en-GB|access-date=18 May 2017|url-access=subscription|archive-url=https://web.archive.org/web/20170723074236/https://www.ft.com/content/e79b1a78-3afd-11e7-821a-6027b8a20f23|archive-date=23 July 2017|url-status=live}}][{{Cite web|url=https://qpsoftware.net/blog/wechat-pay-uk-whats-future-wechat-payment-international|title=WeChat Pay UK - What's The Future Of WeChat Payments|last=Jason|date=14 April 2019|website=QPSoftware|url-status=live|archive-url=https://web.archive.org/web/20200920143148/https://qpsoftware.net/blog/wechat-pay-uk-whats-future-wechat-payment-international|archive-date=20 September 2020|access-date=18 September 2019}}] However Alibaba had a 54 per cent share of the Chinese mobile online payments market in 2017 compared to WeChat's 37 per cent share.[{{Cite news|url=http://fortune.com/2017/05/13/tencent-alibaba-china/|title=Tencent and Alibaba Are Engaged in a Massive Battle in China|last=Chandler|first=Clay|date=13 May 2017|work=Fortune|access-date=11 November 2017|language=en|archive-url=https://web.archive.org/web/20171112021424/http://fortune.com/2017/05/13/tencent-alibaba-china/|archive-date=12 November 2017|url-status=live}}] In the same year, Tencent introduced "WeChat Pay HK", a payment service for users in Hong Kong. Transactions are carried out with the [[Hong Kong dollar]].[{{cite news |last1=Yeung |first1=Raymond |title=Contactless competition: WeChat Pay is coming to the MTR |url=https://www.scmp.com/news/hong-kong/economy/article/2121330/contactless-competition-wechat-pay-coming-hong-kongs-mtr |access-date=13 October 2018 |work=South China Morning Post |language=en |archive-url=https://web.archive.org/web/20180804232034/https://www.scmp.com/news/hong-kong/economy/article/2121330/contactless-competition-wechat-pay-coming-hong-kongs-mtr |archive-date=4 August 2018 |url-status=live }}] In 2019 it was reported that Chinese users can use WeChat Pay in 25 countries outside of [[China]], including, [[Italy]], [[South Africa]] and the [[UK]].[{{cite web|last1=Munger|first1=Charlie|title=Berkshire Hathaway 2018 Annual shareholders meeting - 11 May 2018 Afternoon session|date=5 May 2018|url=https://buffett.cnbc.com/video/2018/05/05/afternoon-session--2018-berkshire-hathaway-annual-meeting.html|department=Warren Buffett Archive|publisher=CNBC/Berkshire Hathaway|access-date=14 May 2018|archive-url=https://web.archive.org/web/20180514142140/https://buffett.cnbc.com/video/2018/05/05/afternoon-session--2018-berkshire-hathaway-annual-meeting.html|archive-date=14 May 2018|url-status=live}}] As of March 16, 2026, Alipay, a primary payment method for Alibaba's e-commerce sites is leading the online payment market in China.[{{Cite web |last=Kong |first=Fintech News Hong |date=2020-07-09 |title=Alipay Maintains Dominance in China Over Tencent's WeChat Pay and QQ Wallet |url=https://fintechnews.hk/12618/mobilepayment/alipay-maintains-dominance-in-china-over-tencents-wechat-pay-and-qq-wallet/ |access-date=2026-03-19 |website=Fintech Hong Kong |language=en-US}}] In February 2026 Alipay recorded over 726 million monthly active users in the country.[{{Cite web |title=China: Alipay MAUs 2026 |url=https://www.statista.com/statistics/1395691/china-alipay-monthly-active-users/ |url-status=live |access-date=2026-03-19 |website=Statista |language=en}}] Alipay holds about 53% market share with WeChat Pay at roughly 42% in China. Total mobile transaction volume reached an estimated $20.1 through Alipay in 2025. Combined they both account for around 90% of China's mobile payment market. WeChat total around 1.38 billion global monthly active users with the majority being in China.[{{Cite web |last=Elad |first=Barry |date=2025-08-04 |title=Alipay vs. WeChat Pay Statistics 2025: Market Share, Innovation & Digital Yuan Impact |url=https://coinlaw.io/alipay-vs-wechat-pay-statistics/ |access-date=2026-03-19 |website=CoinLaw |language=en-US}}] |
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In 2019 it was reported that [[WeChat]] had overtaken Alibaba with 800 million active WeChat mobile payment users versus 520 million for Alibaba's Alipay.[{{cite web|url=https://www.ft.com/content/e79b1a78-3afd-11e7-821a-6027b8a20f23|title=Tencent scores with domination of mobile gaming|last=Yang|first=Yuan|date=18 May 2017|website=FinancialTimes|page=15|language=en-GB|access-date=18 May 2017|url-access=subscription|archive-url=https://web.archive.org/web/20170723074236/https://www.ft.com/content/e79b1a78-3afd-11e7-821a-6027b8a20f23|archive-date=23 July 2017|url-status=live}}][{{Cite web|url=https://qpsoftware.net/blog/wechat-pay-uk-whats-future-wechat-payment-international|title=WeChat Pay UK - What's The Future Of WeChat Payments|last=Jason|date=14 April 2019|website=QPSoftware|url-status=live|archive-url=https://web.archive.org/web/20200920143148/https://qpsoftware.net/blog/wechat-pay-uk-whats-future-wechat-payment-international|archive-date=20 September 2020|access-date=18 September 2019}}] However Alibaba had a 54 per cent share of the Chinese mobile online payments market in 2017 compared to WeChat's 37 per cent share.[{{Cite news|url=http://fortune.com/2017/05/13/tencent-alibaba-china/|title=Tencent and Alibaba Are Engaged in a Massive Battle in China|last=Chandler|first=Clay|date=13 May 2017|work=Fortune|access-date=11 November 2017|language=en|archive-url=https://web.archive.org/web/20171112021424/http://fortune.com/2017/05/13/tencent-alibaba-china/|archive-date=12 November 2017|url-status=live}}] In the same year, Tencent introduced "WeChat Pay HK", a payment service for users in Hong Kong. Transactions are carried out with the [[Hong Kong dollar]].[{{cite news |last1=Yeung |first1=Raymond |title=Contactless competition: WeChat Pay is coming to the MTR |url=https://www.scmp.com/news/hong-kong/economy/article/2121330/contactless-competition-wechat-pay-coming-hong-kongs-mtr |access-date=13 October 2018 |work=South China Morning Post |language=en |archive-url=https://web.archive.org/web/20180804232034/https://www.scmp.com/news/hong-kong/economy/article/2121330/contactless-competition-wechat-pay-coming-hong-kongs-mtr |archive-date=4 August 2018 |url-status=live }}] In 2019 it was reported that Chinese users can use WeChat Pay in 25 countries outside of [[China]], including, [[Italy]], [[South Africa]] and the [[UK]].[{{cite web|last1=Munger|first1=Charlie|title=Berkshire Hathaway 2018 Annual shareholders meeting - 11 May 2018 Afternoon session|date=5 May 2018|url=https://buffett.cnbc.com/video/2018/05/05/afternoon-session--2018-berkshire-hathaway-annual-meeting.html|department=Warren Buffett Archive|publisher=CNBC/Berkshire Hathaway|access-date=14 May 2018|archive-url=https://web.archive.org/web/20180514142140/https://buffett.cnbc.com/video/2018/05/05/afternoon-session--2018-berkshire-hathaway-annual-meeting.html|archive-date=14 May 2018|url-status=live}}] As of March 16, 2026, Alipay, a primary payment method for Alibaba's e-commerce sites is leading the online payment market in China.[{{Cite web |last=Kong |first=Fintech News Hong |date=2020-07-09 |title=Alipay Maintains Dominance in China Over Tencent's WeChat Pay and QQ Wallet |url=https://fintechnews.hk/12618/mobilepayment/alipay-maintains-dominance-in-china-over-tencents-wechat-pay-and-qq-wallet/ |access-date=2026-03-19 |website=Fintech Hong Kong |language=en-US}}] In February 2026 Alipay recorded over 726 million monthly active users in the country.[{{Cite web |title=China: Alipay MAUs 2026 |url=https://www.statista.com/statistics/1395691/china-alipay-monthly-active-users/ |url-status=live |access-date=2026-03-19 |website=Statista |language=en}}] Alipay holds about 53% market share with WeChat Pay at roughly 42% in China. Total mobile transaction volume reached an estimated $20.1 through Alipay in 2025. Combined they both account for around 90% of China's mobile payment market. WeChat total around 1.38 billion global monthly active users with the majority being in China.[{{Cite web |last=Elad |first=Barry |date=2025-08-04 |title=Alipay vs. WeChat Pay Statistics 2025: Market Share, Innovation & Digital Yuan Impact |url=https://coinlaw.io/alipay-vs-wechat-pay-statistics/ |access-date=2026-03-19 |website=CoinLaw |language=en-US}}] |
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