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The future of e-commerce in Hong Kong looks bright, with over 210,000 Smart ID Card holders already embedding Hongkong Post's e-Cert in their cards.

Hongkong Post today (March 11) conducted a briefing for the public about the security features of e-Cert and its applications to facilitate online transactions, in particular in e-banking.

Mr Allen Mok, Hongkong Post's General Manager (Electronic Services), hosted the briefing together with two guest speakers Mr Li Shu-pui, Head of Banking Development Department from the Hong Kong Monetary Authority (HKMA), and Mr Vincent Hui, Head of the e-Distribution Department of the Bank of East Asia (BEA). All three provided updates on the latest e-banking developments, and the safety measures recently introduced - including e-Cert - to protect the interests of online banking service providers as well as their customers.

Mr Li said it was a worldwide trend that more and more banking transactions were conducted online, and Hong Kong was no exception. "Currently, there are around 38 authorised institutions offering Internet banking services in Hong Kong. At the end of 2003, there were around 2.2 million personal Internet banking accounts (compared with 1.6 million in 2002 or an increase of 37%) and 67,000 business Internet banking accounts (compared with 31,000 in 2002 or an increase of 116%)," he said " In addition, the total number of financial transactions of personal and business Internet banking services have increased encouragingly by 38% and 440% respectively during 2003. While enjoying the benefits of increasing use of online transactions and the greater convenience that comes with it, consumers should also take every precaution over security to protect their own interests," Mr Li said.

Mr Mok agreed that, "with more and more banks in Hong Kong offering online banking services to their customers and with the increasing number of Internet banking transactions, enhancing security has become a priority". He said the recent fraudulent website cases had aroused a lot of concern in the market. "In this aspect, the e-Cert of Hongkong Post is recognised as the most secure means that can protect online users from exposing their secrets or passwords to unauthorised third parties. The identity verification by e-Cert is based on users' digital signature rather than shared secret or password transmitted over the Internet. In addition, e-Cert gives users peace of mind by protecting the online transactions from being tampered with, either deliberately or accidentally," Mr Mok said.

"The Government has been striving to promote Hong Kong's international image as a dynamic digital city and one of the initiatives is to encourage people to apply for e-Cert embedded Smart ID Cards. We already have more than 210,000 e-Cert subscribers through the Smart ID Card bulk replacement exercise and the number is ever increasing. With the ease of accessibility of the e-Cert embedded Smart ID Card, it creates a very favourable and convenient environment for conducting secure e-commerce, be it e-banking, online securities trading, shopping or betting," continued Mr Mok.

BEA is one of the leaders among Hong Kong banks to apply the e-Cert technology. Mr Hui said that to offer a more secure means of online banking services to its customers, the bank has adopted Hongkong Post e-Cert as it is the most popular digital certificate in Hong Kong. With improved security, the transaction limit of our online banking services will be increased to provide greater flexibility and even more valued-added solutions to our customers."

For more details about Hongkong Post e-Cert, check the website, www.hongkongpost.gov.hk.

Ends/Thursday, March 11, 2004

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