In a sign of strength for online banking in the Middle Kingdom, China Merchant Bank, which has about 400 branch offices on the Mainland, has agreed to market the online banking technology of 99Bill.

China Merchants will also use 99Bill’s platform.

China is one of the fastest growing online banking markets in the world. Data shows one-fifth of China’s web surfers

use online banking services "at least twice or three times per week," and 5% of those surveyed use online banking each day. In a contrast,  online banking is used globally two or three times a week by 32% of users; 14% use it daily.

 To further illustrate the point, according to the China Banking Regulatory Commission, China’s major commercial banks signed up 75 million new online banking customers by the end of 2006, compared with about 54 million new users in 2006. This year, online banking transactions volume in China is projected to exceed $15.6 billion and online banking users will reach 117 million.

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