AEON, CASH join hands in e-commerce juggernaut
By Clare Cheung
STORY: AEON Credit Service (Asia) has entered into strategic partnership with Celestial Asia Securities Holdings (CASH) to explore the e-commerce arena.
``E-commerce is the business direction of future consumer and commercial activities. We share the same vision with CASH in offering customers convenience and flexibility through e-commerce,' AEON managing director Kazuhide Kamitami said.
CASH offers services such as brokerage and margin financing, investment and personal finance portal.
CASH chairman Bankee Kwan said the partnership would help both parties cultivate customer loyalty and expand their client base through joint marketing.
AEON director Gerald Fong Chung-leung said the company was working with Andersen Consulting on the e-commerce business model. It will provide a payment gateway next week to facilitate online business transactions.
According to International Data Corp's projection, the expected sales generated from business-to-consumer (B2C) transactions in Hong Kong will be $845 million this year, $1.9 billion in 2001 and $3.8 billion in 2002.
To cope with e-commerce development, AEON is spending US$3 million (HK$23.4 million) to expand its branch and electronic network. The number of branches will increase from 30 to 35 and the cash dispensing machines, web-based ATM and multi-media kiosks, will rise to 400 from 220 this year.
AEON will also expand its call centres in Hong Kong and open one centre in Shenzhen in June.
``The rental of the Shenzhen call centre is only 15 to 20 per cent of that of the Hong Kong centre. Taking IDD expenses into account, the total operating cost is half of that of Hong Kong operation,' Mr Fong said.
``In view of China's imminent entry to the World Trade Organisation, there are lots of business opportunities.'
AEON has already secured 615,000 credit cardholders and Mr Fong said the number is expected to rise to 730,000 this year.
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