In this episode, Stephen Hopkins, a China fintech expert, discusses third-party payment fees in China. China’s third party payment fees are much lower than the west, this made us wonder how WeChat and Alipay work. Hopkins explains the technical side of these platforms in comparison to PayPal.

Jump to the questions: 1:10 How is Alipay and WeChat pay different from Paypal and why are third-party payment fees so much lower in China than in the west?

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Relevant interview: https://www.youtube.com/watch?v=u8wFwTW6ThU

What is Daxue Talks? Daxue Talks, a China business vlog powered by daxue consulting, a china-based strategic market research company founded in 2010! With Daxue Talks, you will stay up to date with all the latest business updates in China. Every day, you will learn from china-based experts who share their knowledge about the Chinese market in 2-5 minutes.