WeChat red envelope (original) (raw)

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WeChat red envelope (or WeChat red packet) is a mobile application developed by the Chinese technology company Tencent. 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. 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.

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dbo:abstract WeChat red envelope (or WeChat red packet) is a mobile application developed by the Chinese technology company Tencent. 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. 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 application offers users the ability to give monetary gifts in the form of virtual 'credits' to other users of the application. Money is deposited into a user's WeChat Pay account, which can be used for purchases. The app allows withdrawals from that account. There are two types of 'red envelopes' offered by the app: the pairwise red packets, via which money is sent from a private chat of two users, and the group red packets, where money is distributed in a group chat. The 'grouped' red envelope can then be posted to a group chat and the application randomly assigns the amount in each envelope to each recipient. Since WeChat launched its virtual red envelope campaign in 2014, WeChat Pay has more than doubled its market share. (en)
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rdfs:comment WeChat red envelope (or WeChat red packet) is a mobile application developed by the Chinese technology company Tencent. 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. 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. (en)
rdfs:label WeChat red envelope (en)
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