China's Tencent to cut transaction fees by 10% for SME users of WeChat payments

China's Tencent to cut transaction fees by 10% for SME users of WeChat payments

REUTERS/Siphiwe Sibek

Chinese social media giant Tencent Holdings Ltd will reduce transaction fees for small- and medium-sized merchants using its WeChat payments system by 10%, the company said in a statement on Thursday.