The People's Bank of China has introduced a series of online banking services which enable customers to transfer money among accounts at different commercial banks.

The "Super Online Bank" system supports real-time interbank transfers and interbank balance inquiries and will open new services such as third-party payment in the future, according to chinaknowledge.com. Initially, the system will be launched in four cities, namely Beijing, Tianjin, Guangzhou and Shenzhen.
Before the launch of the system, customers had to log on to different banks' websites to manage their accounts, and inter-bank transfers usually took one or two days.

In December 2009, the China’s main financial regulator started working with Chinese banks to set up a banking online payment platform that will directly compete with Alipay. The platform will help clear settlements among banks and is set to allow China’s online banking users to carry out interbank transactions online, irrespective of the bank which hosts their individual accounts. Final decisions from the regulator regarding the role of Alipay and other third-party online payment services are not expected until 2011. “In the worst-case scenario, the central bank could give the new platform monopoly status for certain inter-bank online clearing services”, according to news.alibaba.com.

In China, business internet banking accounts for around 70 percent of all online banking activities.