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Mobile Payment Familiarity Pushes Commerce in Market

One prominent online activity during the Spring Festival or Chinese New Year holiday in China was massive distribution by various e-commerce operators of virtual red envelopes of money or hongbao, which attracted the participation of 810 million person/times at its peak time of 22:34 on Feb. 18, Chinese New Year's eve. Despite the hefty sums paid for the campaign, e-commerce operators have cultivated via the campaign large numbers of potential customers, both individual and corporate, for their mobile payment service, according to news website www.ce.con. The familiarity with mobile payment will facilitate further development of mobile e-commerce, a burgeoning sector in the e-commerce market in China. Data from iResearch, a market information provider, said that Alibaba currently dominates China's mobile e-commerce market with an 86% share.

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