WeChat red envelope (or WeChat red packet) is a mobile application developed by the technology company . The concept, also offered by its market competitors and , is based on the Chinese tradition of (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 Jan. [pdf]
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