JD.com (JD) Aims to Cut Payment Fees by 20% to Compete with WeChat Pay

Dec 20, 2024

JD.com (JD, Financial) is making a strategic move to enhance its position in the third-party payment market, traditionally dominated by Alipay and WeChat Pay. At the 2024 JD Supply Chain Financial Technology Service Trade Conference, JD's payment division announced plans to reduce its transaction fees by at least 20% compared to WeChat Pay by 2025, targeting the enterprise sector.

This initiative is part of JD's broader supply chain financial strategy, which includes integrated services across industries like healthcare and tourism. JD Technology reported saving businesses over 10 billion yuan in 2024 through professional financing services. JD Payment, operating since 2012, offers a range of solutions including card, credit, and facial recognition payments, and has a user base of 580 million, serving over 4 million merchants.

JD aims to increase market share by investing over 1 billion yuan in marketing to promote its payment services. The company is also expanding its cross-border payment solutions to facilitate global transactions for enterprises.

Disclosures

I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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