Hutchison and Vanda form BEPay.com

Hutchinson and Vanda Systems have joined forces to form BEPay.com to look into e-enabling B2B transaction settlements.

Hutchison Whampoa, one of Hong Kong's oldest conglomerates, and Vanda Systems Communications Holdings have formed aájoint venture company called BEPay.com, which will be looking at e-enabling B2B transaction settlements. Launching in July 2000, BEPay.com will provide a payment portal for Application Service Providers ASPs, linkingásuppliers,ábuyers and banks on to a single e-commerce platform.

In the present internet world, payment sites focus mostly on B2C payments, and almost all of them are owned wholly or partly by financial institutions. With a projected annual growth rate of 65%, the B2B e-commerce market is expected to dwaft the B2C market in the comingáfive years. BEPay.com will begin with the development ofáa...

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