Trintech has begun a recruitment drive for 100 new software specialists and is to create a "centre of excellence" for electronic commerce in Dublin. The company yesterday predicted that the level of Internet-based payments would soar over the next few years and said it aimed to be at the forefront of the business, known as "e-commerce".

"An important part of that process will be to build our Dublin operation, by employing the best and the brightest in the Irish hightech sector to create an e-commerce centre of excellence," said the firm's president, Mr Cyril McGuire.

"It will be Dublin based. Our commitment to Ireland is steadfast.

Trintech, which designs electronic payment software, said it expected rapid growth in the volume of e-commerce, from less than $20 billion (£14.4 billion) last year to more than $100 billion by 2000. Some analysts predict as much as $196 billion worth of transactions by that date.

Mr McGuire said he had just signed an agreement with American Express, which had chosen Trintech as the exclusive provider for its secure transaction software.