JD.com (HKG:9618, HKG:89618) will cut transaction fees by 20% for JDPay, compared with its competition, WeChat Pay, next year, The Standard reported Friday.
WeChat is owned by Rival Tencent (HKG:0700, HKG:80700). JD.com also plans to invest 1 billion yuan in marketing, the Standard said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)