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.

The new version also introduced customizable homescreen that enables customers to add or delete module, and an app center that features third-party apps. Around 35.4 percent users have visited the app center, according to Ran Yong, product manager of the service. The company is in talks to introduce more apps to the center, he added.

Emma Lee (Li Xin) was TechNode's e-commerce and new retail reporter until June 2022, when she moved to Sixth Tone to cover technology and consumption. Get in touch with her via or Twitter.

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