Like many other traditions, the handing out of ang baos – red packets containing cash – has been disrupted in the digital age.
Alibaba and Tencent are two household names in the global technology sphere. For a long time now, these two Chinese giants have slugged it out on their home turf in a struggle to achieve dominance in the growing Chinese internet consumer market.
With increased digitisation of services these days it was only a matter of time before digital payments caught up. Digital payments are transactions of monetary value conducted via electronic means.
Nestle SA is losing buzz to an Indonesian coffee brand famous for brewing civet-cat feces, and L’Oreal SA is losing face to a Chinese skincare brand favored by President Xi Jinping’s wife.