China UnionPay rolls out cash incentives on integrated payment app, ramping up battle with Alibaba and Tencent

China UnionPay is ramping up the marketing on its recently released integrated mobile app, in an attempt to make inroads into a sector dominated by third-party payment services backed by Alibaba Group Holding and Tencent Holdings.

Under a promotional campaign that winds down on March 2, participants who download and use the QuickPass app to transfer funds or invite friends to join are eligible for cash prizes of 2,018 yuan (US$322).

The promotion known as the “red packet feast” will run throughout the Lunar New Year holiday.

The app, launched in December, represents UnionPay’s strongest ever effort to compete against Alibaba and Tencent in the fast-growing online payment sector. Transactions through UnionPay’s quick response code were up sharply in December, the company said.

Read More – South China Morning Post

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s