HONG KONG, 14 Dec 1999 -- Cable & Wireless HKT (CWHKT) is partnering Hong Kong banking giant HSBC, to develop two new initiatives in e-commerce.
The partnership will launch an online shop service for merchants, using HSBC's new payment gateway to handle credit card transactions, with CWHKT providing the technical support and communications infrastructure.
They will also launch a chip-based multi-application card which combines credit card, calling card and e-commerce facilities. Some of the e-commerce functions being considered are cash cards, electronic wallets and electronic IDs.
According to Allen Ma, the chief executive of Interactive Multimedia Services at CWHKT, the alliance demonstrated both HK firms' commitment to developing e-commerce in the region.
Eric Tai, HSBC's head of personal financial services for the Asia Pacific said: "HSBC is a world leader in developing and implementing such card systems and we believe the security and flexibility of chip cards will further encourage online purchasing."