JD Pay announced at the JD Supply Chain Financial Technology Service Industry Conference that it will continue reducing transaction fees and aims to have its fees at least 20% lower than those of WeChat Pay next year. Additionally, JD Pay plans to invest 10 billion RMB in marketing to help partners reduce costs and improve efficiency. The price reduction will be benchmarked against the actual transaction prices of corresponding platforms.
The initiative includes a three-step cost reduction and efficiency enhancement plan. In the first phase, JD Pay offers an integrated payment product that combines various payment tools such as WeChat, Alipay, Cloud QuickPass, JD Pay, and bank cards. The second phase helps customers set up their own payment counters, giving them bargaining power over costs and ensuring supply chain security. The third phase provides professional operational plans and tools to increase transaction proportions, assisting customers in transitioning to self-operated payment systems. JD Pay has already served over 4 million merchants this year, saving them over 10 billion RMB in marketing and payment costs.
