The official wallet app of China’s digital currency has launched a red packet feature, a function made popular over the years by the country’s dominant payments app Alipay and WeChat Pay, in a fresh move to lure new users, reports the South China Morning Post.
The e-CNY app’s latest update, released over the weekend, allows users to send each other digital yuan-filled red packets—known as hongbao in mainland China. This comes just a month ahead of the Lunar New Year, when the Chinese traditionally give out red envelopes filled with cash to family and friends as a symbol of well wishes.
As electronic payments become more prevalent in the country, sending small amounts of gift money online has become a social phenomenon, thanks to promotions by WeChat Pay from Tencent Holdings and Alipay from Ant Group, an affiliate of Alibaba Group Holding.
You must log in to post a comment.