As the first mover and continued winner of this battle, Tencent has managed to boost swift development for WeChat Payment. It is rumored that some 200 million bank accounts were linked to WeChat over the Lunar New Year holidays in 2015. Over 14.2 billion red envelopes were sent out via WeChat on New Year’s Eve last year. WeChat has been the foremost frontier of Tencent’s hongbao battle so far, but it seems that the company is trying to duplicate WeChat Payment’s success to its older sibling. Given QQ’s increasingly young user base, this new plan could help Tencent to attract more young Chinese and become a part of the consumption behaviors of China’s next generation of consumers.China has undergone a drastic shift towards mobile payment in recent years. The country now has 531 million online payment users as of December 2017, of which 527 million are mobile payment users.