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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: Rande Is who wrote (21226)	2/26/2000 12:05:00 PM
From: Shadowed	Respond to of 57584

Rande, I know you are a fan of SVNX. I have been looking into ICICI, Ltd. as a similar play. (Symbol: IC). ICICI Limited, formerly the Industrial Credit & Investment Corporation of India, is one of India's leading financial institutions. In late January they announced: ICICI to set up B2B and B2C e-CommercePayment Gateway in association with Compaq and QSI. January 27, 2000 08:53 AM MUMBAI, India--(BUSINESS WIRE)--January 27, 2000--ICICI Ltd. IC today announced that it has tied up with Compaq led consortium for setting up a payment gateway to facilitate secured online Business-to-Consumer (B2C) and Business-to-Business (B2B) e-Commerce transactions. The payment gateway will be owned by a subsidiary of ICICI and implemented by Compaq India, subsidiary of Compaq Computers Corporation CPQ , QSI Payment Technologies (QSI), Australia and Financial Software & Systems Pvt Ltd. (FSS). ICICI will be the first financial intermediary to implement an e-Commerce payment gateway within India and will be providing services to corporates, consumers, merchants and banks that plan to share the ICICI Payment Gateway. ICICI's B2C payment gateway will interface between the Internet shopper, the web merchant and banking systems in a secured environment to facilitate online payments. The Gateway offers the flexibility of multiple payment modes including credit, debit & smart cards, direct bank debits and e-cheques. The Gateway will use strong encryption technologies and digital signatures to protect these transactions from potential attacks by hackers. ICICI's B2B Payment Gateway will facilitate e-Commerce transactions between corporates in a virtual market place. The Gateway would also provide e-procurement services by linking corporates with their network of buyers and suppliers. The Gateway will allow processing of innovative payment instruments like e-cheques, purchasing cards, direct debits and on-account payments. "The ICICI e-Commerce Payment Gateway will launch a state-of-the-art Internet payment system and is set to open the world of e-Commerce to many more merchants, consumers and businesses in India by significantly lowering the cost and complexity of enabling secure transactions over the Internet," said Mr. K V Kamath, MD & CEO, ICICI Ltd. The Gateway will provide easy integration with merchant Shop & Buy Applications and back-end systems through a thin "Payment Client" - an XML client software residing on the merchant server. Apart from processing online transactions, the Gateway would also provide merchants with an administrative module for transaction management, offering a high degree of flexibility for merchants. The ICICI Gateway will support credit card transactions secured by using Secured Socket Layer (SSL) technology, the most commonly used security standard on the Internet today. Further, the Gateway has the flexibility to support Secured Electronic Transaction (SET) standards. ICICI Group has launched a number of strategic initiatives on the Internet such as e-Invest - India's first Internet stock trading service. ICICI Bank, the banking subsidiary of ICICI and the pioneer of Internet Banking in India, has introduced several Internet based services which include online opening of bank accounts for NRI customers; the first pan-India Internet based bills payment system; Money2India - a remittance product for NRIs, etc. ICICI Bank has entered into agreements with leading corporates for B2B and B2C solutions and has recently signed a memorandum of understanding with Satyam Infoway Limited (SIFY) for online distribution of Banking products. On February 24 they announced: ICICI Bank offers Internet based billing. February 24, 2000 09:06 AM BOMBAY, Feb 24 (Reuters) - Indian private bank ICICI Bank on Thursday said it had launched an Internet based service which will facilitate electronic payment of bills. It has installed the software BancsPay from Infosys Technologies INFY which can maintain the payee database, handle payee registration, payment creation, scheduling and keeping track of payments, a statement from the bank said. They have partnered with SIFY and INFY and I feel their business sector combined with the high growth potential of India could lead to big things for this company. Let me know what you think. Thanks, Shadowed