China’s largest third-party payment platform Alipay launched the 7.1 version of its mobile app Alipay Wallet at the beginning of this month, making a splash in the industry with its new function of Yu’ebao, a mutual fund platform. Many here may ask the question of how this new service been accepted by the public.

Yu’ebao, the most eye-catching feature of the update, scored more than 2.50 million users after half a month since its debut. More than 57 percent of them have transferred money in their Alipay accounts into Yu’ebao via smartphones, according to data released by Alipay.

The most popular functions of AliPay Wallet 7.1, as always, are money transfer, phone bill recharging and lottery. The users of these three services account for 44 percent, 42.6 percent and 23.4 percent of the total AliPay Wallet 7.1 users, according to the company’s data.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.