Hong Kong, 5 November, 1998, SPECTRA Technologies picked up two awards, including the top honour, in the 1998 Hong Kong Awards for Industry. Two years ago, the company also captured the top honour of the 1996 Hong Kong Awards for Industry: Consumer Product Design with their S9000i Cordless Transaction Terminal. Last year, the company received the CMA Machinery and Equipment Design Award again with its Merchant Acquiring Service System (MASS).

With 4 awards in 3 consecutive years, SPECTRA Technologies has demonstrated their commitment to product innovation and their leadership in electronic transaction technology. Despite the economic downturn, the company has continued their rapid growth. Early this year, it moved into its new spacious office and launched four new products in one ago. Among them are the two Hong Kong Awards for Industry winners: the Electronic Money Acceptor (EMA) which received the top honour, and the Universal Electronic Money Manager (UEMM), winner of the CMA Machinery and Equipment Design Award.

As a perennial award winner, SPECTRA Technologies has shown superb technological know-how and keen market insight. They are fully aware that their products have to compete against the best in the world. Awards are just the icing on the cake; as a hi-tech enterprise, you must also be able to carve a piece of the cake against highly esteemed international competitors.

The company's ability is well recognized. This January, the Asian Banker Journal published a survey report on electronic transaction terminals, in which their products are rated as the best in terms of Technical Superiority, Innovation, Most Value Added and Ergonomics.

It is small wonder that the Most Technically Advance product, S9000i, should garner the lion's share of the local market. The S9000i is the world's first electronic transaction terminal that is cordless, that can handle both English and Chinese display and also the first to integrate the functions of credit cards and debit cards in one terminal. Shortly after its launch, it became the automatic choice of over 90% of local acquiring banks. Even imitation products, which totalled more than half a dozen, cannot undermine the dominance of the S9000i.

SPECTRA Technologies is also one of the two companies in the world which have successfully developed Electronic Network Access Controller cards. From the view of international financial institutions, Hong Kong is well placed at the forefront of technology.

The two award winners are not just technological masterpieces; they are also very practical products which can fulfil the needs of the fast developing financial markets.

"According to statistics worked out by Mondex International, among its different developed sites, the development of Mondex in Hong Kong is the most outstanding of all. With its design emphasis on aesthetics and convenience, EMA is well suited for the launch of electronic money," comments Mr William Leung, Assistant General Manager and Head of Credit Card Centre, who oversees the launch of Mondex for Hang Seng Bank. "We are also trying to utilize automatic or semi-automatic equipment to make sure Mondex is more convenient than traditional currency for our consumers."

"Hong Kong, in fact, leads the world in VISA Cash applications," says Mr Ivanov Yim, General Manager, Hong Kong and Macau of VISA International. "We've decided to launch VISA Cash commercially in Hong Kong first, and naturally we're delighted to find products like EMA."

Top Award Winner endorsed by Both Mondex and VISA Cash

The Electronic Money Acceptor (EMA), winner of the top honour at the 1998 Hong Kong Awards for Industry: Consumer Product Design, opens up a whole new world of flexible applications for the universal acceptance of electronic money. Created for the future, this non-desktop electronic money collecting machine can be connected to the Electronic Cash Register System and also supports non-contact smart card applications.

The EMA has already passed the stringent certification process of Mondex International in London as well as VISA International in Denmark. It concurrently accepts all kinds of electronic money, from Mondex to VISA Cash and proprietary E-cash (e.g. bonus points on the chip). Although the methods of collecting money differ from place to place and industry to industry, the flexible EMA works for everyone. The EMA can collect fares for all kinds of public vehicles. It can collect admission charges at public facilities. And it can collect charges at car parks, chain stores and supermarkets. With the EMA, small change becomes a thing of the past. Error is significantly reduced. And no operators are required to facilitate transactions. Most importantly, since transactions involve no real cash, the EMA eliminates the danger of theft or embezzlement. Safety and convenience are the hallmarks of EMA.

With a design concept that integrates ergonomics, aesthetics, convenience, speed and self service, this compact and stylish machine, encased in a sturdy, protective alloy casting, can be installed at all indoor and outdoor locations to handle all kinds of fixed or variable money collection. An optional control unit allows the EMA to charge according to distance, class or time. An optional printer issues receipts for customers.

Thanks to the EMA, electronic money can be accepted any where. As electronic money replaces banknotes and coins, there will be demand for complementary electronic financial services. The Universal Electronic Money Manager (UEMM), another award winning product from SPECTRA Technologies, is developed exactly for such services.

Convenient access to Electronic Money anytime, anywhere

"The BOC Smart Card which is VISA Cash and debit card two-in-one, offers more convenience for our customers," says Ms Wendy Mui, Deputy General Manager of the Bank of China Group Credit Card (International) Ltd. "For VISA Cash to become really popular, these two award winners, EMA and UEMM, will be instrumental."

The Universal Electronic Money Manager (UEMM), CMA Machinery and Equipment Design Award winner, incorporates a host of convenient functions essential for electronic money. You can upload and download value and bonus points, check balances, tally bonus points and review transaction records of Mondex, VISA Cash or other proprietary electronic purses.

In brief, the UEMM provides all functions currently supported by ATM machines - except that there is no banknotes, ensuring safety and security. This tastefully designed and weatherproof product can be installed at any consumer hot spots: supermarkets, department stores and chain stores. With the UEMM, banking services travel to the people for added convenience. Furthermore, the UEMM also functions as a self-service payment terminal to pay bills for credit cards, mobile phones, utilities, taxes, insurance and so on.

UEMM is one of the few self-service terminals developed in Hong Kong that has successfully won international recognition. With its stylish, backlit, large graphics LCD display, the UEMM is the strategic product that will help banks and financial institutions to gain a leading edge in the era of electronic money. And it concurrently handles both magnetic cards and smart cards. Equipped with an optional heavy duty graphics printer, the UEMM prints receipts and transaction slips; a secured pin-pad ensures transaction security.

The UEMM will be launched in China first. In a project initiated by the China Construction Bank, the Guangzhou MTR is going to install UEMMs as ticket vending machines. "We have selected the UEMM as the key component of the ticket vending system not just because it is a very sophisticated product but also because SPECTRA Technologies is very experienced in system integration." Mr Lin Weiping, Chief Engineer at CCB's largest credit card centre at Guangzhou points out, "STL's expertise in software development is also a crucial factor."

A glimpse of the hi-tech future

Although SPECTRA Technologies is hardly a household name, their electronic transaction products are closely related to our daily life. Every time we use our credit card or make EPS payments, chances are we will be using their S9000i. We also pay our utilities bills at their Payment Express Terminals (PET), buy movie tickets from their Universal Automatic Ticket Vending Machines and book public golf facilities via their Interactive Vending Terminals, just to name a few. In future, we will also find UEMMs and EMAs indispensable for our daily convenience.

The UEMM and the EMA complement each other to ensure convenience for consumers. While the EMA ensures spending convenience, the UEMM, installed at banks and other locations, puts electronic money into the hands of consumers when and where they need it. The outstanding achievement by both products at the 1998 Hong Kong Awards for Industry underlines their superiority in design, quality, function and technology. Their success in the market will help bring Hong Kong into the era of electronic money.

"Hong Kong as a major international financial centre must always provide the latest financial technology," concludes Mr Fire Yeung, General Manager of SPECTRA Technologies. "It will help consolidate Hong Kong's position as an international financial centre and also contribute immensely to the export of local hi-tech products."