Ruten, an online auction platform in Taiwan set up by Taiwan web portal PChome Online on a joint venture basis, on November 1 announced the adoption of Speedy Pay, an ATM-based online payment system through cooperation with four local Taiwan banks. The system is expected to increase total transactions value by 30% due to a large reduction in the time taken to finish trades, according to PChome.
PChome will offer an instant messenger system linked to the auction platform in 2008 to further facilitate online auction trading, the company pointed out.
Mainly due to losses from non-operating investment in Ruten and IPEVO, PChome's subsidiary to market own-brand Skype-enabled hand-held devices, PChome suffered a net loss per share of NT$2.33 (US$0.07) during January-September 2007, according to PChome chairman Hung-tze Jan.
IPEVO will raise additional capital from targeted investors in two months, Jan indicated. For overseas markets, IPEVO will set up self-operated bases rather than cooperate with local sales agents, Jan noted.
Article translated by Adam Hwang and edited by Ricky Morris
