Myprice, which is the local version of US-based Priceline.com, will set the ball rolling by offering international and domestic phone calls via its website (http://www.myprice.com.au), followed by airline tickets, hotel rooms and rental cars, Law said.
The introduction of these offerings on the website will be "staggered" over the first month of business, Law said. Myprice expects to have stitched up the first of its supply partnerships for these offerings early next week.
Using Priceline.com's "name-your-own-price" business model, Myprice offers customers the opportunity to purchase services at their own price. Via the website, customers nominate the price they are willing to pay for a particular service.
The customer is then notified of a successful transaction once a willing seller is found. According to Myprice, transactions are typically completed within "a few hours".
One week ago, Myprice implemented an online customer registration system. Since that time, Law said, around 40 people have registered with the site.
Myprice last week announced its appointment of advertising firm Singleton Ogilvy & Mather Group as the company's communications agency.