Caixin
Feb 20, 2018 07:39 PM
BUSINESS & TECH

Chinese Walk 40 Times the Distance From Earth to Mars for Digital Red Envelopes

Tencent gave out 1.79 billion red envelops worth a total of 200 million yuan to 221 million users through its QQ messaging platform during the Lunar New Year, the Internet giant said on Monday. Photo: VCG
Tencent gave out 1.79 billion red envelops worth a total of 200 million yuan to 221 million users through its QQ messaging platform during the Lunar New Year, the Internet giant said on Monday. Photo: VCG

The tradition of giving "hongbao," or red envelopes, during the Lunar new year has become the latest weapon used by China's major online payment services in their turf wars.

In recent years, China’s top digital payment providers, Alipay, Tencent’s WeChat pay, have flooded users with virtual red envelopes during the festive season to reward their loyalty.

This year, the players have ratcheted up their game, with Tencent giving out 1.79 billion red envelops worth a total of 200 million yuan to 221 million users through its QQ messaging platform during the Lunar New Year, the Internet giant said on Monday.

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