Jinshang Bank held its mobile banking service release news conference in Taiyuan, capital of Shanxi province, on Sept 26.

Formerly Taiyuan Commercial Bank, Jinshang Bank is a shareholding bank owned by the Shanxi government. Jinshang is the Chinese word to describe Jin merchants. Jin is short for Shanxi.

Mobile payment transactions in China totaled 48 billion yuan ($7.6 billion) in 2011. By 2013, the total amount is expected to exceed 200 billion yuan ($41.74 billion). The coming years will witness a boom in the mobile payment industry, led by mobile banking services.

Jingshang Bank adopted innovative patent technology utilizing smart chip cards in its mobile banking service. Customers can enjoy convenient access to account inquiries, transfer, remittance and payment. Jingshang Bank also provides special products and services including interbank account management and free bank clearing.