Source: Shanghaiist Date: 16/2/2016
As though the number of e-hongbao sent out on NYE alone wasn’t already impressive enough, Tencent reported this week that the total number of digitized red packets shared among its WeChat users over last week’s 6-day CNY holiday was 32.1 billion. Business: booming.
That’s tenfold the number of electronic red envelopes from last year’s Spring Festival, which was a mere 3.27 billion, reports Shanghai Daily. This time 516 million participants on WeChat joined in on the virtual version of the holiday tradition. Reminder that China’s population in 2013 was estimated at 1.357 billion.
Tencent has been on a roll of late: last year, it launched a whole range of services on WeChat designed to integrate the platform into virtually every facet of everyday life. One of the more significant of those is the mobile payment scheme with capacity for overseas transactions. Such business manoeuvres are ensuring WeChat remains a big name not only in China, but also in places like South Africa.
Meanwhile, Alipay also has done well for itself, boasting more than 100 million players in its interactive sessions during the Spring Festival Gala. Interestingly, 64% of that crowd were from third and fourth-tier cities. In collaboration with 45 sponsors Alipay awarded a cumulative 800 million yuan as prize money.