"We are moving from the traditional payment space to the internet and mobile telecommunication payment..."
-Craig Chatterton, Director, VeriFone India.

Craig Chatterton is the Director of the city-headquartered VeriFone India, a division of the Hewlett-Packard Company. Besides heading the company's operations in India, he is also responsible for VeriFone's e-commerce software development worldwide. He spoke to bangalorebest.com on the company's plans to expand in the field of e-commerce.

* What are VeriFone's strategies to tap the e-commerce market in India?
Our thrust right now is on introducing new OMNI 3300 and OMNI 3350 terminals. These terminals can do multiple applications. For example, in addition to gift payment, those terminals can be used for other purposes. These terminals can connect to the internet and send an order to [a particular website] and the order will come out on the terminal. They don't have to have any real cash or computer system or a regular payment terminal.They will confirm the order and send the confirmation back to the person who mailed the order and deliver it.

So, we see a whole new type of activity that will really change the nature of business in the future.

* What does VeriFone do in the field of mobile-commerce?
Mobile e-commerce allows you to do business with a mobile phone. You can take your mobile phone and with technologies like WAP you can actually connect to websites and do business that way. Let us say that you are driving in your car from one city to another, your mobile phone can transfer information that lets the system know where you are, and, let us say, you are running short of gas, the system detects this and directs you to the nearest gas station. It can also help you if you get lost, or something like that. You can also check your bank balance or stock, buy a book. Technologies like WAP allows you to condense information from the web and gives it to you on to a very small screen.

* What about WAP technology in Bangalore?
There were already companies doing WAP activities early this year here in Bangalore. There was a WAP conference here early this year at which Mr. Chatterton delivered a presentation on WAP and e-commerce. There are companies in Bangalore introducing WAP technologies. There are some projections that WAP will grow faster than the PC business because you can do multiple things with it. WAP technology will make things very convenient for people.

* How long will it be before e-commerce really takes off in India?
Probably it will take some time to do so, maybe a couple of years. But my advice to companies and businesses is, don't wait. Today, in India [people think] it is a risk. People sometimes wait because there are not many e-customers over the internet. Then you are going to miss the boat. If you miss the opportunity today, you won't get another opportunity. There are so many business opportunities available on the net, for example transcription services, translation services, offering services to people from other countries who want information about India or want to buy things from India. While B-to-C seems to be limited to mainly books and CDs and that too in low volume, B-to-B may have bigger potential. However, a lot of regulatory issues need to be addressed before this can really take off in a big way.

India has tremendous advantage from the stand point of economical labour costs. It has vast business opportunities the world can take advantage of and companies should not wait.

* What are the main constraints in introducing e-commerce?
Communication is probably the biggest one from the standpoint of business opportunities. Communication is so important today, and the world is so small.Power and water are others.

* What about e-payment system, VeriFone's focus area?
We are moving from traditional payment space, which is like brick and mortar,to this new era of internet payment, telecommunication mobile payment.These are new opportunities that we are bringing to our customers.

According to Craig Chatterton, competition is good for business as it helps keep them on their toes. Coming up with new technologies and products will help VeriFone stay ahead of the competition and become the market leader.

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Charan C S

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