WeChat recorded 1b+ transactions during Chinese New Year

letstalkpayments.com

WeChat is again redefining what growth means, one year after its taxi app saw 21 million cab rides booked in the first *month* after release. This time the instant messaging platform facilitated the exchange of one billion virtual "red envelopes", a Chinese New Year tradition of exchanging money between relatives and friends. How much money was moved is unknown at this point, but WeChat competitor AliPay recorded $642M of gifts over the same period of time.

Read more...
Linkedin

Want to receive more content like this in your inbox?