Joint Electronic Teller Services (Jetco) and Visa International plan to introduce the Visa Cash product to Macau and China, a Jetco official says. Jetco chairman Ernesto Ng said the launch of the product in Macau and China would come after the operations had been matured in Hong Kong. Visa's executive vice-president and general manager for Asia-Pacific, Raymond Chan, said discussions with mainland authorities had started and a number of mainland-based banks had expressed interest in launching the product there. Jetco's assistant general manager John Tsang said he was working closely with operators of similar networks in Guangzhou and Shenzhen, seeking possible network link-ups which would assist the introduction of Visa Cash on the mainland. Introduced in Hong Kong by the Bank of China (BOC) Group and Standard Chartered Bank on a pilot basis from August 1, Visa Cash works like a stored value card which allows the users to settle small value transactions. Visa's country manager for Hong Kong and China, Ivanov Yim, said more than 50,000 Prime Visa Cash cards, a disposable version of the product, were issued and more than 25,000 transactions were conducted during the first three weeks of the pilot programme. Following a memorandum of understanding signed yesterday between Jetco and Visa, the other 33 Jetco member banks, in addition to the 13 BOC Group members and Standard Chartered Bank, will introduce the product shortly. Jetco said it would upgrade the network so that the 1,300 automated teller machines could reload the cash value on reloadable Visa Cash cards - a more advanced version of the product to be introduced later. Bank of East Asia's general manager Chan Kai-cheung said the bank, one of the five Jetco directors, would introduce standalone Visa Cash cards in six months, followed by the reloadable version.