Shoving off speculations, China's leading third-party online payment system Alipay revealed via a social media post on Tuesday that it will continue to offer its cash withdrawing service for free.

"Since quite a few users asked about the issue, here is my reply for all: Alipay will not charge for withdrawing cash," the message said.

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Alipay is under the management of Ant Financial Services Group, an online finance affiliate of Alibaba. Alipay and Tencent's WeChat both dominate the mobile payment platform in the mainland.

Concerns began to grow that Alipay might soon follow WeChat's suit, which recently announced it will begin charging its clients 0.1 percent for every digital wallet to bank account withdrawal starting March 1.

Alipay brushed off these speculations two days before the alleged kick off of Apple's mobile payment platform in China called Apple Pay.

Meanwhile, Alipay has also partnered with Uber China and Kintetsu, a Japanese department store chain, to allow users to pay through the mobile payment platform. Kintetsu claims that this is the first instance Alipay will be used as a payment option in Japan; however, the Chinese third-party app has already been utilized in Japanese discount chain store Don Quijote and consumer electronic retailer chain Yamada Denki since 2015.

China is the biggest smartphone market across the world. Nearly 360 million people, that is more than United States' population, have started using mobile payments, China Internet Network Information Center revealed.

Currently, there are an estimated 413 million online shoppers in China, and statistics reveal that over 50 million people tried online shopping for the first time in 2015.

TagsAlipay, mobile payment system, Ant Financial Services Group, Alibaba