China. Super internet bank to enter Chongqing in November

13 Sep

Super internet bank was expected to enter Chongqing in mid-November, according to Chongqing Operations Office, the People’s Bank of China on Aug. 30. Super internet bank, the 2nd generation of the online payment interbank liquidation system led by the central bank, could provide 24-hour interbank fund remittance and transfer, interbank account and accounting checking for both individual and unit, and could also provide functions like interbank deduction and third-party payment whichthe current payment system couldn’t realize. Some analyst said this new system would cut the cost of the internet bank of each bank, so the transfer charge could be reduced.

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