To start the Year of the Rooster off right, some 14.2 BILLION digital hongbao were exchanged over WeChat just on Lunar New Year’s Eve alone.
That’s a whopping 75.7% increase from last year when a mere 8 billion virtual red packets were sent out over WeChat. Back in 2015, we were impressed when the number was just over 1 billion.
WeChat rolled out the feature in 2014 and since then its been an unqualified success, peaking at 760,000 transactions per second at midnight on the Lunar New Year this year, and helping to popularize its own mobile payment system against that of rival Alibaba’s Alipay.
Alipay has tried to strike back by promoting its own digital red packet feature with games and cash giveaways; however, WeChat appears to still be China’s favorite way of sending acquaintances some lucky spare change.
Even without massive advertising campaigns, the virtual hongbao trend appears to be spreading well via word-of-mouth. In a recent survey, 95% of respondents said that they planned to teach their parents about digital hongbao with its obvious benefits over the traditional method of stuffing cash inside real red envelopes.
It’s simply safer.
And just more efficient.
How much did you rake in this year?
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