Digital hongbao Archive

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Much has been said about the three-way battle between Chinese internet giants Baidu, Alibaba and Tencent (commonly referred to as China BAT) and the different digital fields in which they compete, including e-commerce and mobile payment.

But despite being a fiercely competitive “market” with the potential to influence each company’s long-term success in China, little is actually known about the impact of digital red envelopes on the Chinese internet industry and what we can expect from this mysterious feature in the near future.

Online payment market share China - SekkeiStudio

Chinese new year digital WeChat HongBao

From now and as incredible as it sounds, it’s possible to send a new year’s Eve HongBao to your relatives, friends and other family members, a virtual card involving real money and bank accounts, right from your phone.

An old money-related tradition – Chinese HongBao now on WeChat

virtual digital WeChat HongBao

You’ve just received a HongBao on WeChat

More than one billion RMB exchanged on WeChat for New Year’s Eve

Since Tencent and Alibaba are Tech Leaders here in China, it’s not that surprising they’ve found a way to embrace chinese culture,  as they are now part of chinese economic landscape, a step forward has been operated in the way of catching chinese user’s attention, getting more mobile users to sign up, days after days.