![]() ![]() To send or receive money in the app, users need to link their bank accounts to WeChat. Achievement Market Shares Open the Potential Market Specifically, they changed the application to generate an image with a number which could be shared on WeChat, prompting one's WeChat friends to download and open Alipay Wallet and type in the number to redeem the money. Alibaba then changed their application to require more direct interaction with Alipay Wallet if a user wanted to give the "lucky money" to their WeChat friends. Shortly afterwards, WeChat disabled the capability. Through Alipay Wallet, users were able to share Alibaba's digital red envelopes with their WeChat friends and send them onto WeChat's sharing platform Moments. Half a day after Alibaba's announcement, WeChat announced it would give away RMB500 million (around US$81m) cash and RMB3 billion (around US$484m) of e-coupons the next night. On February 10, 2015, Alibaba announced it would give away RMB600 million (around US$97m) of “lucky money” to users, with RMB156 million in cash and RMB430 million of e-coupons from merchants on its marketplaces. The competition attracted widespread attention from the public. ![]() The Red Envelope War is a financial battle between the two Internet companies competing for the mobile payment market in China. The number of shakes during the gala promotion achieved a total frequency of 11 billion and a peak of 810 million per minute. A total of 1.2 billion red envelopes, worth over half a billion RMB (US$83 million), were sent out during the promotion. During the gala, users were invited to shake their smartphones for a chance to win red envelopes. In 2014, WeChat partnered with the Spring Festival Gala and introduced the WeChat red envelope shake. On 18 February 2015, WeChat cooperated with CCTV Spring Festival Gala, the most-watched TV show of the year.From 12 February to 21 February 2015, WeChat unleashed 500 million red envelopes full of cash and another three billion virtual coupons to its users.From August 2014 to January 2015, the company was in a period of research and development. ![]() On 17 January 2014, WeChat launched the red envelope application.In June 2013, WeChat first enabled mobile payment on its platform.Since WeChat launched its virtual red envelope campaign in 2014, WeChat Pay has more than doubled its market share. With the latter, after it is posted, the amount of money within is randomly split and assigned to recipients in the group chat. There are two types of "red envelopes" offered by the app: pairwise red packets, in which money is sent in a private chat of two users, and group red packets, in which money is distributed in a group chat. The app allows withdrawals from that account. Money is deposited into a user's WeChat Pay account, which can be used for purchases. The application offers users the ability to give monetary gifts in the form of virtual "credits" to other users of the application. The application was launched by Tencent in January 2014 and has subsequently gained popularity, with Tencent reporting 2.3 billion transactions on 1 January 2016 alone. The concept, also offered by its market competitors Alibaba and Baidu, is based on the Chinese tradition of hongbao (red envelope, or red packet), where money is given to family and friends as a gift. ![]() WeChat red envelope (or WeChat red packet) is a mobile application developed by the Chinese technology company Tencent. ( March 2015) ( Learn how and when to remove this template message) Please help improve it by removing promotional content and inappropriate external links, and by adding encyclopedic content written from a neutral point of view. This article contains content that is written like an advertisement. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |