WeBank, China’s first online-only private bank backed by internet behemoth Tencent, quietly released its banking app over the weekend. In addition to being named after WeChat, Tencent’s mark on WeBank is clear in its exclusive support for WeChat and QQ login. After registering a connected bankcard, the users will get a 19-digit WeBank account number. Another major function is money transfer between cards under the same user’s name for saving salaries and paying house installments. Tencent agreed that the current WeBank is an elementary version with basic features and the company plan to enrich the functions in future updates.