FEDEX TEAMS WITH E-COMMERCE COMPANY IN ASIA
Federal Express, the international air express subsidiary of FDX Corp.,
has signed an agreement with Hong Kong-based First Ecom.com to develop automated payment
processing systems for international package shippers and Internet retailers.
First Ecom.com builds electronic payment solutions that allow merchants and
banks to process credit card transactions online in multiple currencies. FedEx customers
in Asia can now access First Ecom.com systems to pay shipping fees.
The two companies also have agreed to jointly develop and build a payment
settlement solution for e-commerce customers that will debit a customer’s credit card
only after purchases have been confirmed as shipped.
The jointly-built system will combine First Ecom.com’s payment
processing gateway and FedEx’s bar code tracking system. FedEx and First Ecom.com
hope the new system will spur online shopping in Asia.
Last week, United Parcel Service invested an undisclosed sum in a Hong
Kong-based Internet company called NetCel 360 to boost its presence in Asia’s
business-to-business e-commerce market.