Bermuda's expertise in electronic commerce was spotlighted at a Miami conference this week when one of the Island's leading e-businesses gave tips about global online payments.

First Atlantic Commerce Ltd. senior vice president Andrea Wilson gave a presentation about steps e-businesses should take when setting up their company's internet payment options.

First Atlantic Commerce Ltd. was the executive sponsor of a sold-out conference in New York last September, and Mrs. Wilson said the increased interest in this year's conference was proof that "the word is out'' about the importance of e-business -- and Bermuda's strength as a major player in the field of e-commerce.

In her presentation, Mrs. Wilson said First Atlantic Commerce Ltd. offered online payment options so merchants can capture regional markets by pricing their goods in multiple currencies.

"The Internet is very Western-based...but we can now enable merchants to offer prices in 52 different currencies,'' she said.

"So they can, for example, market a CD to someone with a yen-based credit card and it makes it more likely that they would purchase since they don't have to guess at the exchange rate.

"For a Bermuda-based merchant like a local department store who wants to sell goods in Hong Kong, it opens a regional market you didn't have before -- and it's easy because you don't have to set up a physical shop,'' she added.

Mrs. Wilson identified five important steps to enable a web business -- choosing a jurisdiction, choosing a bank for your merchant account, software and providers, selecting payment methodology, and marketing the business.

"You need to choose a jurisdiction based on reliable telecommunications, and it needs to have a good legal structure -- what are the laws, are they suitable to protect your clients and your business,'', said Mrs. Wilson.

"And when choosing a bank, you should make sure they have offices in other key jurisdictions. Who are the bank's providers? Many payment providers have glitzy websites which market services they can't deliver, so it's important to get references,'' she added.

BUSINESS BUC