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Aeon Credit Service (Asia) and IBM yesterday launched the first cyber mall in Asia-Pacific offering automatic, real-time credit card transactions.

  Aeon World offers round-the-clock shopping in a secure on-line environment for users of the company's virtual credit card.

  The mall features electronics store Yaohan Best, grocer City Super, computer retailer Fujitsu and catalogue sales service A Andrews.

  Jusco department store and car accessory retailer Challenger are expected to come on board soon.

  IBM has backed the project with technical support, using its Net.Commerce end-to-end purchasing transaction software.

  Web surfers can browse the site (www.aeonworld. com) but are limited to window shopping.

  Only current Aeon card-holders are eligible to apply for the virtual card. Others can simultaneously apply for both card versions, which carry separate lines of credit.

  Aeon assistant marketing manager Martin Wong said: 'The credit card business in Hong Kong has developed very well.'   There are 220,000 Aeon card members, of which 60 hold virtual versions. Aeon will consider extending access to regular card-holders.

  The cyber mall was presently only in English as there were logistical problems in creating a bilingual version, Aeon said. A Chinese-language version may be launched, depending on customer response.

  Mr Wong said Aeon World would appeal to Hong Kong people because it combined the convenience of a credit card with the Internet's easy accessibility.

  Although many loved to shop, they led busy lives and faced crowded shops and malls. 'Shopping on the Internet is a very different experience. It should attract a lot of people who like to try something new.'   Shoppers on Aeon World can click through an illustrated menu of goods. A brief description and price accompanies each product.

  Selected items are accumulated in a virtual shopping basket that can be stored for 48 hours before goods are paid for.

  When ready to pay, shoppers must enter an ID number and password to gain access to their virtual card. The automatic debt clearance is done in real time and shoppers can instantly check their standing line of credit.

  Aeon alerts each merchant by e-mail to report transactions. The store then phones shoppers to confirm the sale and set a time for delivery.

  IBM said that security was assured because the site was limited to approved card-holders and merchants and was closely monitored.

  'We know who the customers and merchants are . . . it's easy to track,' Cindy Cheung, IBM general manager of network computing and cross-industry solutions, said.

  Starting in June, Aeon World will use the Secure Electronic Transfer (SET) multi-party protocol, the open standard agreed upon by major card companies such as Visa and Mastercard.

  SET, which is presently being tested in on-line pilot shopping projects in the US, was developed by IBM and other IT vendors.

  It uses 64-bit encryption technology, which makes gaining unauthorised access much more difficult than on the present 40-bit standard.



Aeon on-line mall marks first for Asia