Maconochie had expected royalty payments as NAB expanded the product. Executives at NAB say his claims are inflated. Users would be able to check their balances, pay bills and transfer funds from a television screen. Online banking is gradually becoming popular in Japan as more consumers get connected to the Internet. Winners will be selected based on competitive bidding, as well as their technical ability and financial resources.
China plans to tax commercial transactions made over the Internet.
The government set up a special task force to figure out how to track e-commerce and prevent online tax evasion. Tax officials have been under pressure to collect more money to cover government aid for millions of workers being laid off from ailing state enterprises. Telefonica said the site might be extended to other industries in the near future. IG, a free ISP in Brazil, launched a portal that targets high-tech firms. IG launched in February and has lured more than 1 million subscribers, putting it in the top tier of regional sites along with Universo Online, StarMedia and Terra Networks.