(The screenshot of "Blue Packets")
Indian messaging platform Hike begun to offer “blue packets” to celebrate Holi and Diwali after its shareholder Tencent introduced the “red packets” culture, according to Financial Times.
“Red packets” is a tradition in Chinese culture. The envelopes are filled with cash and handed out during holidays or special occasions. Chinese tech giant Tencent has helped move the tradition online in the form of virtual credit. Last year, some 64 billion digital packets were given to other users over Tencent’s payment platform, according to official data.
“India has many festivals,” said Kavin Bharti Mittal, Hike founder and son of Indian telecoms tycoon Sunil Bharti Mittal. “The technology can help bring offline behavior online.”
Jayanth Kolla, co-founder of the telecom consultancy Convergence Catalyst, said copying Tencent’s red packets is about trying to bring an age-old cultural habit to the modern age, adding that the company will look to Indian culture for inspiration.
India has become a battleground for Chinese tech giants, where Alibaba, Xiaomi, and others battle for market share. Alibaba’s PayTM is the biggest “payment wallet” provider in India, while Xiaomi has set up official Indian branches. In the first quarter of the year, Chinese smartphone makers made up 51 percent of India’s market, according to a study by India Ratings and Research (Ind-Ra).
Delhi-based Hike is a joint venture between Bharti Enterprises and SoftBank. On Aug. 16, 2016, Hike raised $175 million in a new round of funding led by Tencent and Foxconn. Hike crossed the 100-million-user mark in January 2016, and has partnered with Cafe Coffee Day, Pizza Hut, Dominos, and other companies to give coupons as rewards.
