Alipay ties up with CCTV for gala show
Print Edition
Alibaba鈥檚 payment and financial services affiliate Alipay said yesterday it has replaced Tencent鈥檚 WeChat as the exclusive official partner for China Central Television鈥檚 Spring Festival Gala this year.
Alipay said it has teamed up with dozens of companies such as Minsheng Life Insurance, Youku Tudou Inc and Tianhong Fund Management Co to give users cash coupons or vouchers during the interactive sessions for this year鈥檚 CCTV Spring Festival Gala.
The cooperation with CCTV represented Alipay鈥檚 effort to battle WeChat payment services to increase its presence in the sector.
Alipay aims to add new users to its current base of 400 million users.
In response, Tencent said the advertising income during the 10 days starting on Lunar New Year鈥檚 Eve on the WeChat Moments page, similar to Facebook鈥檚 timeline where one can read friends鈥 updates, will be used to give users e-Hongbao, or virtual red envelopes.
During last year鈥檚 Spring Festival Gala, a total of 500 million yuan (US$76 million) worth of virtual red envelopes were given to users by WeChat.
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