Creating a digital alternative to the traditional Chinese 'red envelope' payments helped spur WeChat's financial services growth, and helped it become a 'superapp.'

WeChat has become China's primary news platform, due to expansive user base and legacy media's adoption of the platform.

Read a breakdown of WeChat, the central technology in Tencent's empire that boasts roughly 1.4 billion users and hosts e-commerce, payment, and messaging services all in one place.

China is making a deliberate push towards becoming a cashless society, making digital payment services like Tencent's WeBank even more valuable.

What's the difference between QQ, WeChat, and Weixin?

Tencent owns QQ, Weixin, and WeChat—three separate apps serving different users. QQ launched in 1999 as a youth-focused messenger. Weixin (for China) and WeChat (international) are technically the same app, but split to comply with regional regulations, especially around data and payments.

Listen to an interview with Tencent's chief financial officer Arthur Wang to hear how the company is leveraging to AI to stay ahead of the technological curve.

Read an overview of Tencent's biggest business moments, from the 2011 WeChat launch to streaming deal with Universal Music Group.

Owned by Tencent, WeBank was China's first digital bank and services 340 million customers.

In 2018, Tencent's market capitalization hit $580B, surpassing Facebook (now Meta) for the first time.

Watch a timeline of Tencent—one of China's earliest tech giants—despite the company's low profile.

See a breakdown of Tencent's revenue streams, which include fintech, advertising, games, and social.

Hóngbāo, or traditional red envelopes, can now be shared digitally

The red envelopes people exchange during the Lunar New Year have a long history and plenty of lore. Symbolizing the triumph of good over evil, hóngbāo may be given to anyone from a grandparent to a favorite celebrity. However, never give an amount with a "4" in it, as the pronunciation sounds like the Chinese word for death.

The payments tool Zelle was created by big banks to compete with apps like Venmo

Zelle is an alternative to Venmo, where people can pay each other back for expenses like apartment utilities or dinner. But its origin story has more to do with big finance than small transactions.

Listen to a podcast episode that explains how the Chinese discount e-commerce retailer Temu became one of the most downloaded apps in the US.

Red is deeply symbolic in Chinese culture

Since the bold hue warded off the mythical Nian, the color red has come to represent luck, prosperity, and celebration. If you come across a home or neighborhood preparing for new year celebrations, you'll see red lanterns, wall hangings, clothing, and more.

Tencent has relatively low name recognition outside of China—despite being the world's biggest video game publisher—operating a 1.4-billion-user messaging network, and holding more than 80 companies with valuations exceeding $1B.

Created when Tencent launched the first version of its internet messaging platform, QQ, the company's winking penguin has become a ubiquitous cultural presence in China.

Temu uses gamification techniques to encourage customers to shop on its app

Games include a spinning roulette wheel that offers coupon rewards, promises free delivery, and more. Some have said it’s tough to pull themselves out of the Temu ecosystem once they’re in it.

Critics say WeChat is a surveillance tool for the Chinese government.

Visualize the world's most used ecommerce apps, from Amazon to Shein and Temu.

See a breakdown of every single video game Tencent has invested in.

The rebrand to X was to make Twitter an all-in-one social media app

Elon Musk renamed the platform as part of his plan to create an app that goes beyond posts and tweets. The rebrand included a new name, logo, and vision for a platform that offers messaging, video, banking, shopping, and more.

Some argue that advance payday apps aren't markedly different from payday loans

Some apps, like EarnIn, allow users to get money from their paycheck in advance. These apps access users' banking information, allowing the company to immediately take back any borrowed money and track users' financial situations to evaluate their risk. Unlike traditional payday lenders, these apps often waive the right to sue users who don't pay back the initial principal and don't charge interest, but rather ask users for a tip. (Some users may experience a paywall.)

Meta has reported WhatsApp users send over 100 billion messages daily

Across 180 countries and 60 languages, approximately billion users use the messaging app every day, with about 400 million in India, WhatsApp's biggest market. In some countries, the app has gone beyond messaging, enabling users to schedule doctor's appointments, conduct real estate deals, and provide direct-to-consumer sales.

The way dating apps make money is changing

As downloads fall across the industry, dating apps are trying to stay competitive by adding paywalls to their business models. The more than $6B dating app industry is largely dominated by Match Group, the parent company of both Tinder and Hinge. This video explores how AI and human behavior are changing the industry one right swipe at a time.

The Paypal-owned Honey app and RetailMeNot are popular places consumers find digital coupons today

With digital coupons overtaking physical ones as the most commonly redeemed coupons, customers flock to these sites and apps for coupons and discount codes, often checking multiple of them before making an online purchase.

Temu was born out of a Chinese company that, at the time, was called Pinduoduo

Today, the company is called PDD Holdings, and owns both Temu and its very similar sister app in China, Pinduoduo.

Apple Pay is activated on more than 78% of US iPhones

As a result, some banks worry they could be losing ground to the tech company. As consumers continue to use Apple Pay instead of pulling out their physical debit card to pay for everyday items, some banks are fighting back in the digital wallet war.

American Express is targeting Gen Z, who are generally less risk-averse than older generations

Unlike Millennials, who grew up during the Great Recession in 2008, Gen Z has a higher risk appetite and has grown up with more gamified spending platforms, like online gambling and prediction markets. Analysts say Gen Z's risk appetite makes them prime targets for credit card companies like American Express that can sell younger customers on large benefits in exchange for annual fees.

How the people behind spam text messages make money

If you've ever gotten a text message from a scammer—sometimes even just someone from an unknown number saying hello and calling you by the wrong name—you've probably wondered what they're trying to get out of you. This podcast answers that question. Hint: The answer has to do with cryptocurrency.

Explore a visual timeline of fintech’s history and growth

From the debut of the world’s first ATM in 1967, to Apple Pay launching in 2014, financial technologies have come a very long way in a relatively short historical period. A colorful visual timeline highlights some of the most important milestones along the way.

Consumers will use digital payment processing for nearly $40T in spending by 2028

That's just one signal of the industry's massive growth. Investments in the global fintech industry have grown from $4B in 2010 to $92.3B in 2021, as both businesses and consumers seem to quickly adopt new fintech products, from digital payment apps to robo-advisers.

Using cryptocurrency to turn traditional financial arrangements on their head

Cryptocurrency is poised to drastically change everything in the financial world, including financial arrangements. Decentralized finance makes it easier for virtually anyone to take advantage of financial markets without the need for a bank. However, there are new risks involved as well. Professor of Legal Studies and Business Ethics Kevin Werbach, an expert on Bitcoin and blockchains discusses it all in detail in The Conversation.

How TikTok ate the internet

TikTok is now deeply integrated into American culture, thanks to the app’s powerful algorithm and focus on entertainment which have influenced popular trends and social media content consumption in the US. This immersive piece highlights TikTok’s role in helping shape everything from music to fashion and even politics in the US—while its connection to China has also drawn scrutiny and raised national security concerns.

A timeline and visuals on TikTok's rapid growth

The app that would become TikTok is known as Douyin in China, and this article recounts its history, acquisition of rival Musical.ly, and rebranding ahead of its lightning growth. One visualization shows how quickly TikTok reached 1B users.

How end-to-end encryption protects messages, even from service providers

Using symmetric and asymmetric cryptography, data is encrypted on the sender's device before being transmitted across application servers that lack the key needed to decrypt it. The message is not decrypted until it reaches the recipient's device, which uses their private key to recover the plaintext. E2EE's effectiveness has led to its adoption by WhatsApp and Signal.

How the checking account has evolved into a platform of features rather than a product

The accounts act as an anchor for customer relationships that banks need to retain said customers. As fintech companies unbundle the checking account without technically being chartered banks, traditional banks face pressure to innovate the checking account experience.

TikTok boasts nearly 1.8B monthly users

The app has surged in popularity recently, with usage surging during the COVID-19 pandemic. Those users have generated high revenues, too, with over $23B in 2024.

Watch a tour of Tencent's sprawling headquarters, focused on tech and health, located in China.

Chinese clothing retailer Shein accounts for about half of fast-fashion sales in America.

TikTok is one of the fastest-growing social media platforms of all time

Centered around user-generated short videos, the platform was created by the Chinese technology company ByteDance Ltd. With over 1.8 billion users, the app has become a global force.

Fintech companies made it easier for merchants to request tips, leading to fatigue

In recent years, companies such as Square and Toast have created touch screen technologies prompting customers at coffee shops and casual restaurants to tip upwards of 25%. Despite the interesting psychological conundrum this presents to consumers, one tech columnist argues that shoppers don't need to succumb to the pressure.

Understanding TikTok-owner ByteDance's business model

ByteDance has ridden TikTok's major success to become the world's most valuable startup. This deep dive showcases some of the company's smartest moves and tactics, and where it's headed next.

Digital passports allow identity verification to be digitized

By scanning the security chip on the back of passports and capturing images or video of a person, apps like Google Wallet and Apple Wallet create a digital version of the document. Some states have also developed their own apps for digital driver's licenses.

Cryptocurrency acts as a store of value

Traditional money, dating back to its first known uses in ancient Babylonia, has many uses—it reduces friction in transactions by providing a common denominator of value (unit of account), acts as a single item accepted by many vendors (medium of exchange), and holds wealth as a store of value.

American Express runs on a 'spend-centric' model, using perks and merchant fees to drive profit

American Express cardholders tend to spend more money per transaction than other credit card users, which makes the interchange fees merchants have to pay to accept American Express cards worth it while incentivizing other companies to pay the interchange fee as well.

TikTok CEO Shou Zi Chew on its future

TikTok CEO Shou Zi Chew dives into how the trendsetting video app and cultural phenomenon works, from what distinguishes its algorithm and drives viral videos, to the challenges of content moderation and digital addiction in this wide-ranging conversation with the head of TED, Chris Anderson.

It's unlikely that we will ever live in a completely cashless world

Although countries like China are moving toward a cashless system, many other countries still rely on physical money for everyday transactions. This article dives into the future of currency and includes a map of the percentage of adults who do cashless transactions around the world.

Delivery apps have realigned the restaurant industry

As delivery apps like Grubhub and DoorDash became popularity, traditional dine-in restaurants have adapted to become more accommodating. In this thinkpiece for the Atlantic, Ellen Cushing argues that it's both changed the kind of food being made and realigned our very notion of a restaurant. (Some readers may experience a paywall.)

A major dopamine hit from social media use comes from unpredictability—not knowing if the content users post or share will get the 'like' from other users, triggering cycles of anticipation similar to those experienced with a slot machine.

TikTok's personalized algorithm activates the brain's reward system

A 2025 Washington Post study found that 75% of the TikTok users it studied nearly doubled their time spent on the app within a month. Experts in design and psychiatry say this is due to the app's interface and algorithm, which, after learning about the user's preferences, recommend videos more likely to activate that person's dopamine reward system than non-personalized suggestions.