TAIPEI (Taiwan News) — A new feature on the "Taiwan Pay" app (台灣Pay行動付) allows red envelopes to be exchanged electronically.
Taiwan Pay is Taiwan’s answer to mobile banking. The app allows users to conduct financial transactions on their phones, and now includes the option to exchange red envelopes via QR code.
The app is currently compatible with 10 banks: Taiwan Bank, Land Bank of Taiwan, Taiwan Cooperative Bank, First Bank, Hua Nan Bank, Chang Hwa Bank, Shanghai Bank, Mega Bank, Shin Kong Bank, Jih Sun Bank. Scan another user's QR code and the red envelope sum is transferred from one bank account into another.
Users who exchange e-envelopes from now through Feb. 17 before 11 p.m. are eligible to enter a Taiwan Pay lottery and win prizes from coffee to iPhones, according to Apple Daily.
Applications like Taiwan Pay accord with Premier William Lai’s (賴清德) plan for Taiwan to become a “smart country” and to increase its technological capabilities by 90 percent before 2025, said Tech News.
Similar tech has already been well-integrated into holiday traditions with applications like WeChat. A survey by the Lightspeed Research Foundation found that 80 percent of respondents in China now prefer to give red envelopes electronically.