Spectra Technologies may not be a household name but its electronic transaction products are closely linked to the daily lives of people in the SAR.

Every time someone uses their credit card, or makes EPS payments, the chances are they will be using a Spectra S9000i Cordless Transaction Terminal.

When they pay their utilities bills they are probably using the company's Payment Express Terminals.

They may also buy movie tickets from a Universal automatic ticket vending machine, or book public golf facilities via Spectra's interactive vending terminals.

A cashless society may once have appeared as far fetched as manned flights to Mars but, with Spectra's innovations, the time is approaching when banknotes and coins will be outdated.

"Electronic money is becoming increasingly popular and our products can meet the many different requirements of electronic money transactions," Yeung Tat-wing, Spectra Technologies general manager, said.

He said the company's success in last year's Awards for Industry provided an excellent marketing opportunity and helped raise the company's profile in Hong Kong and the region.

"It means customers recognise the quality of our work and the quality of our workforce," Mr Yeung said.

"It emphasises once again that we are a market leader in our field."

Until now, Spectra Technology had only targeted selected Asian markets because it believed quality after-sales service was paramount, Mr Yeung said.

"We have offices in Hong Kong, the mainland and Taiwan and currently We export only to these markets," he said.

The company plans to expand at a controlled rate to be sure of meeting its customers needs. It employs more than 60 staff in Hong Kong and uses subcontractors to assemble its products in the mainland.

"We will be entering the awards again this year and trying our best to enjoy more success," he said.

Mr Yeung said 1998 marked the third year Spectra had entered the competition and it had been successful each year.

In 1996, it won the Hong Kong Award for Industry: Consumer Product Design for its S9000i cordless transaction terminal.

The following year, it received the CMA Machinery and Equipment Design Award for its Merchant Acquiring Service System. And last year it was honoured twice, winning the Award for Industry: Consumer Product Design for its electronic money acceptor, and a CMA Machinery and Equipment Design Award for its Universal electronic money manager.

For a company established only five years ago, this was a great track record, reflecting superb technological know-how and keen market insight, and proving hi-tech industries had a bright future in Hong Kong, he said.

The S9000i is the world's first cordless electronic transaction terminal.

It can handle English and Chinese display and integrate the functions of credit cards and debit cards in one terminal.

Since its launch, it has become the choice of more than 90 per cent of local acquiring banks.

The Universal electronic money acceptor, last year's major award winner, is a non-desktop collecting machine that can be connected to an electronic cash register system and support non-contact smart card applications.

It is endorsed by both Mondex and Visa Cash and has many uses - from collecting fares for public vehicles, admission charges at public facilities and charges at car parks, chain stores and supermarkets.