Several Chinese banks have rolled out subsidies for WeChat Pay withdrawal fees.
Analysts say banks are converting marketing spend into immediate consumer
benefits to wage a targeted battle for low‑cost liabilities in the
mobile‑payments era, aiming to secure a more stable, lower‑cost deposit base.
Free withdrawal quotas are typically tied to platform scenarios such as
membership points, e‑commerce and food delivery. Both WeChat Pay and Alipay are
coordinating with internet private banks, using fee waivers to attract potential
depositors.
