Insight Report 8 minutes PremiumDigital Red Packets: WeChat’s Successful Foray into Mobile Payment Coresight Research March 28, 2018 Executive Summary Sending and giving red packets, or red envelopes, containing cash is a long-held Chinese tradition at Lunar New Year. Leveraging on this, WeChat, China’s most-used messaging app, introduced a function to send digital red packets back in 2014. Since then, WeChat’s digital red packets have become a huge success: 768 million WeChat users chose to send digital red packets to friends and families this year, and a recent survey found that about 80% of mainland Chinese said they intended to send red packets via WeChat Pay this year. Leveraging its success in digital red packets, WeChat has expanded its mobile payment functions to cover online and offline services, marking its successful foray into the mobile payment market with 39% market share. On the back of the popularity of its digital red packets,WeChat’s wide user base of over 1 billion monthly active users (MAU), as of February 2018, and strong user engagement, give it a competitive edge in the mobile payment market in China. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for Other research you may be interested in: Consumers Remain Reluctant to Visit Public Places: China Consumer Survey InsightsRetail-Tech Landscape: Generative AI ApplicationsUS Watch Market: Traditional Watches Cede Share to Smartwatches, While Luxury Offerings Continue To GrowDay Three at NRF 2024: Retail’s Big Show—Lessons from Macy’s, Shein, Temu and More