Spectra Technologies is providing the means to a cashless society.

The three-year-old Hong Kong company is a specialist in electronic transaction applications.

Whenever you use credit cards or bank cards, pay bills or book movie tickets, you are probably using Spectra's technology.

Marketing director Alfred Hung said its most recognised product was the S9000, a compact Eftpos terminal for retail stores and banks.

The cordless transaction terminal was designed two years ago to handle payments made by credit cards and Eftpos cards.

Its battery-powered palm-held terminal can be removed from the communication base, allowing customers to swipe their cards and enter pin numbers.

To keep pace with technology. Spectra designed the S9000i, winning the 1996 Hong Kong Award for Industries Consumer Product Design category.

The new terminal has the added technology to accept smart cards.

Smart cards were introduced to Europe 20 years ago but Mr Hung said they had only gained popularity in Hong Kong eight months ago.

They can be used for banking transactions, storing medical or personal information, accumulating loyalty bonus points for future discounts at retail outlets, or as an electronic purse.

An electronic purse has a similar function to an MTR common stored-value card where consumers can buy a card of their desired value and use it instead of cash for purchases.

Mr Hung said its first project, the S9000 terminal, broke the United States manufacturing monopoly in the territory.

"Three years ago, we were nothing now we have 60 per cent of the market share in Hong Kong," he said.

Australia and the US still remain Spectra's biggest competitors.

"We have won the battle in Hong Kong but we.are still fighting the war elsewhere," Mr Hung said.

The S9000 and S9000i are used in 60 per cent of retailing stores and 90 per cent of banks in the territory.

Mr Hung said companies which wanted to update the S9000 model to handle smart card transactions only had to have the palm-held terminal adapted.

While the S9000 and S9000i had been designed for ease and security, Mr Hung said detail was also given to its attractiveness.

"Merchants care how it looks and we also designed the terminals with more consideration for the consumer."

He said winning the Hong Kong consumer product design award had boosted company morale. ,

"We have commercial recognition for our product but now, with this prize, we have neutral recognition."

With headquarters in the Hong Kong Industrial Technology Centre, Spectra also has branches and subsidiaries in Beijing, Shanghai, Shenzhen, Taipei and Taichung.

The company develops and manufactures many different transaction terminals and data systems, including outdoor terminals for bank balance inquiries, phone ordering systems for cinema tickets, ticket vending machines and mail-order processing systems.