The Bank of China is rolling out the Visa Interlink Great Wall electronic debit card.
Cardholders can make deposits, withdrawals, and purchases where Visa is accepted in China. The card will be usable elsewhere when the Chinese currency becomes internationally convertible.
The bank expects to issue two million Interlink-branded debit cards within 18 months, and will gradually convert its 20 million proprietary automated teller machine cards over five years.
Visa said the Bank of China is the third in that country to launch the on-line debit product.