I was asked in this CITYPlus FM’s show today that if virtual angpow (red envelope) 🧧 will become a big hit in Malaysia in 2021 Chinese New Year, while e-wallet based transactions grew 30% in 2020 amidst pandemic.
Let us take a step back on what happened in China. Virtual angpow became a big hit in China in 2014 while WeChat Pay launched such a feature through a promotion during CCTV’s heavily watched New Year’s Gala. However, AliPay, which was launched in 2004, has paced digital payment and shaped such culture for a decade by then.
With that, I don’t think virtual angpow will become a hit in Malaysia, at least in 2021, while the key e-wallet providers also didn’t push such features heavily or creatively.
I even noticed a provider re-packaged its gift card feature and called it as ‘Virtual AngPow’.
What do you think?