For centuries, Asian people have celebrated the New Year by gifting money to friends and family as a way to wish them peace and happiness for the coming year. While this money-giving tradition typically happens in person, a new free service from PayPal partner Lottay.com enables people physically separated by location to wish friends and family a Happy New Year with a virtual hong bao (red envelope) filled with real money and/or a personal message.

Here’s how it works:

1. Go to: http://www.lottay.com/lunar_new_year
2. Input the friend’s or family member’s name and email address.
3. Easily customize the hong bao with graphics, personal message and dollar amount (if desired).
4. Press ‘Send’ and the virtual hong bao will be delivered instantly via email to your loved one.

If a person is sending money with the hong bao, Lottay.com allows him/her to use their PayPal account to securely gift money to their friends and family. Once the monetary gift is sent, the recipient will be notified that they were given a cash gift along with their hong bao.

Happy Chinese New Year!