Tencent Holdings Ltd's recent announcement that it will open up its WeChat brand to business vendors and allow online payment for products and services will certainly intensify the battle with archrival Alibaba Group Holding Ltd.

But is this really a race where the latest technology is key or is it a battle of the brand images?

WeChat's sudden, explosive emergence - launched only two years ago and already boasting more than 300 million regular users - onto the social networking scene, has led to the creation of an extremely emotionally powerful brand. "Fun", "excitement" and, above all, "friendship" and even "romance" are associated deeply with the WeChat brand and its brand experience.