More than 100 million sent gift money on Alipay
More than 100 million people sent gift money via mobile apps during the Chinese Lunar New Year holiday, according to Alipay, the payment system run by Chinese Internet giant Alibaba.
The period from Feb 18, or Lunar New Year Eve, to Feb 21 was the peak for gift money with a total of 4 billion yuan (about $652 million) paid via the e-payment platform, according to figures released by Alipay.
Giving “lucky money” in electronic form has become a trendy spin on the Chinese tradition of giving red envelopes, or hongbao, filled with money to children on Lunar New Year Eve. The custom is more than 1,000 years old.