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"Red packet" craze indicates fierce competition for mobile payment market

(People's Daily Online)    16:08, February 13, 2018

With the Spring Festival drawing near, many Chinese internet enterprises have launch electronic red packet activities, indicating a fierce competition for China’s mobile payment market, Science and Technology Daily reported on Feb. 13.

Alipay, Taobao, QQ, Toutiao, and Suning all launched various online red packet activities ahead of the Spring Festival this year.

The interactive activities have become a new custom for Chinese people during the festival, regardless of the value of the red packet, since it was first launched in 2016, said Guan Hua, the person in charge of the activity at Alipay.

Last year, about 168 million Chinese collected the whole set of “wufu” cards, also known as the five digital blessing cards, with an average reward of about 1.2 yuan ($0.19) for each person.

The news platform Toutiao also launched a red packet activity. Users can get a New Year red packet by collecting the whole set of digital Chinese zodiac cards, or by shooting videos of their New Year’s greetings.

Whatever form of activity the enterprises adopt, the essence is competition for China’s mobile payment market, said Zhao Lei, director at China E-commerce Research Center (CECRC), adding that the activities can help the enterprises win more users.

Statistics show that the cost to obtain a high quality customer is about 100-300 yuan, therefore, they are now doing their best to attract users through various online and offline activities.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Wu Chengliang, Bianji)

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