SecureNet turns sights on Chinese market

Listed security and trust services provider SecureNet has joined forces with two Chinese companies to help establish a trust centre in Beijing. The new facility, which will be similar to centres the company has already established in Hong Kong and Australia, will attempt to meet emerging demand for e-commerce and trust services in China.

Geoffrey Ross, managing director of SecureNet, said the centre is expected to be the first in China to provide a complete package of authorised trust infrastructure for a range of Internet-based banking products that require authentication, single sign on, payments processing, secure transactions, smart cards and related services.

"The Beijing Trust Centre is uniquely placed to take advantage of the momentum in e-commerce adoption in China, particularly in the government and banking sectors, given the country's strong growth and looming World Trade Organisation Entry," Ross explained. He added that the centre's services will support secure Internet transactions by any online enterprise, although its first users are expected to be from the financial services sector.

Ross said SecureNet intends to invest up to $US5 million in the centre to match investments by the company's Chinese partners, Top Hawk and HKT SecureNet. The funds will be used to develop the market and obtain the required government approvals for the centre's services and products.

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