Some banks raise the upper limit of credit card payments Morning Post (reporter Jian Tan): Starting today, the channel for recharging Alipay accounts with credit cards will be closed. In response to the inconvenience this may cause to users, some banks have recently raised the upper limit of credit card payments. At the beginning of this year, the central bank issued the "Administrative Measures for Online Payment Business of Payment Institutions (Draft for Soliciting Comments)", which requires that "customers shall not use credit card overdrafts to recharge payment accounts." Taking Alipay as an example, since it has the function of "transferring money from Alipay accounts to bank accounts," some users take advantage of this to cash out from their credit cards. This regulation aims to curb such situations. "Alipay will soon no longer allow credit card recharges, so I decisively recharged 5,000 yuan yesterday," a netizen posted on Weibo. Alipay's relevant personnel said that users actually don't need to worry about this. Closing the credit card recharge channel does not mean banning the use of credit cards on Alipay. Users can still directly transact with merchants using credit cards or debit cards, and they can also recharge their Alipay accounts with non-overdraft bank cards. As for users with large expenditures, they don't need to worry either. Recently, China Merchants Bank increased the single transaction limit from the original 500 yuan to 2,000 yuan. If users want to purchase large items exceeding the credit card limit, they don't need to worry. Alipay and various banks offer a large amount credit card payment service. When purchasing large items from merchants with small credit card logos, there is no limit on credit card payments. In addition, using a credit card for direct consumption will charge sellers a 1% handling fee, which raises concerns about "possible price increases." Relevant personnel from Alipay said that in fact, charging handling fees for using credit cards is not a new thing. When this service was launched in 2009, there was no phenomenon of collective price increases. Share to: > Related reports: China Merchants Bank raises small credit card payment limits on the Alipay platform. The cost of large online credit card purchases may increase: 1% handling fee passed on to users. Third-party payment platforms start to gradually close credit card recharge services. Sina Weibo recommendation | Sina Technology's official Weibo account >> More