China to launch first TV bank

The southern city of Shenzhen plans to launch the first TV bank in China enabling users to make transactions on TV, said sources with Shenzhen Media Group.

The bank is expected to be operational by the end of June in the city of South China's Guangdong Province.

With the bank, a user can make payments and shop by pressing buttons on the remote control.

Set-top boxes of digital televisions function like banking cards,researchers of the TV bank said.

The researchers added that the system is safer than Internet banking in that digital television networks are relatively small and there are, at least for now, no hacker software targeting them.

Source: Xinhua