The rapid development of the Internet industry leads to the Internet Finance’s emergence.As a combination of traditional financial industry and the Internet,Internet Finance(IF)encloses:settlement services and payment,lending(microcredit,supply chain financing,peer-to-peer(P2P)lending),and sales of investment products(e.g.,funds,insurance). Additionally,data gathered by E-commerce companies are being handled to assess the customer’s credit.This article intends to present an overview of the If’s main features,as well as to explore its effects on the conventional transactions of commercial banking industry. Moreover,measures and suggestions for the banks and regulator institutions to deal with the IF would be proposed.