Fortis Bank signs with Visa and VCHEQ for B2B payments

Visa Commerce aims to bridge the gap in online business-to-business transactions.

Fortis Bank has announced it has become the first bank in Hong Kong to participate in the Visa Commerce Open Account VCOA pilot programme, a B2B ePayment initiative that aims to become an ubiquitous payment solution for online business purchases.

When the initiative was launched in November last year, five banks from Singapore, Taiwan and Korea signed up for the pilot program -- United Overseas Bank, China Trust, Taishin Bank, Korea Exchange Bank and Korea First Bank.

Visa International executive vice-president, Asia Pacific marketing and product sales, Rajiv Kapoor says he expects another five or six banks to join in the coming months, but it would take until October 2002 before the number of...

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