Transactions on WeChat Pay during the Chinese New Year reach RMB 1.2 billion
Yesterday we talked about how new technology is changing people’s lifestyles in China which have been epitomized in the Chinese New Year’s holiday. Today we will focus on a certain aspect, mobile payment, and further elaborate with data that might astonish you. According to the report released by Tencent, holiday travelers made a total of 1.2 billion transactions using WeChat Pay from Feb. 4 to 9., and users from tier 4 cities or below accounted for the majority of this. Among WeChat hongbao users, those who were born between 1990 and 1999 led the pack. By contrast, Alipay claimed that users aged 50 to 60 were the driving force behind growth in China’s outbound tourism and spending. Plus, roughly a third of China’s population had taken part in its cash prize event for CNY celebration.