The war for mobile payment apps is heating up again in China, in time for the Lunar New Year, between the two Internet giants Alibaba and Tencent. Both firms want to boost their market share by taking advantage of the tradition of giving away red packets, or hongbao, which are paper wallets stuffed with cash that people hand out for good luck during the Chinese New Year.

from Forbes – Tech http://ift.tt/1PCD7ci
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