China’s CBDC Introduces Red Packet Feature for the Lunar New Year 2023

• China CBDC to launch new red packet feature for Chinese new year 2023.
• The e-CNY wallets are upgraded for users to send  hongbao digitally. 
• Introducing such a feature enables a surge in the adoption rate in China. 

It is typical for every country to celebrate their own traditional new year in the year. Similarly, Chinese celebrate “Lunar New Year” in their country. The Chinese have a tradition of giving money as gifts to their friends and family members called, “Red packets”. Basically in China, it is popularly known as “hongbao.”

Moreover, as it is all set to move into the new year of 2023, China’s CBDC launches an innovative feature in the e-CNY app. Interestingly, users can now send their gifts, the red packets to their loved ones through digital payments. More so, it is an exciting upgrade for all Chinese users to share their traditional red packets in an electronic version. 

However, it is a smart idea that the CBDC plans to introduce such a feature in-order to entice more users.

Traditional Red Packets into Digital Payments

E-CNY, the official wallet app of China’s digital currency has brought in an amazing upgrade for its users. Following the same tradition of visiting our friends and family to share the red packets. Here is the new function to celebrate the lunar new year digitally. In light of this invention, China’s old and popular apps like Alipay and WeChat Pay are working on the promotions of this feature. 

In addition, the feature allows the user to send the red packet to only one chosen person in their list. Else, a luck draw option is available on the app, where it sets a group of people who will get some random money from the fund pool. 

To add more exciting features, the app enables the users to choose any red packet, which has different wishes on it. For instance, the packets are with beautiful wishes like good luck, birthday wishes and greetings for prosperous China. 
Thus, with all these exciting features, the CBDC is engaging the users and targeting the new users as well. Thereby it will result in mass adoption for digital payments in China.