In China, 11th November is commonly known as the "Single's Day" and also “China’s Consumer’s Day” created by the Alibaba Group. The “Double Eleven” brought a new wave of consumer enthusiasm among the Chinese as well as enlightenment towards the development of China’s internet banking. The internet banking is presumed to experience a rapid growth like the E-commerce in the past few years, given the fact that many institutions especially traditional financial institutions are testing the water in this field.