First Virtual Holdings Inc., developer of a secure credit card payment system for the Internet, has established a shopping site called 1 Virtual Place.

The Web site (www.1virtualplace.com) highlights "over 200 of the hottest items" that appeal to high-tech buyers, said First Virtual's chief executive officer, Lee Stein. Examples are digital video disk players and movies, digital cameras, and premium mail-order items like Selma's cookies and Smithfield hams.

First Virtual said the merchandise would change daily, in contrast to more-static on-line stores. And to encourage use, First Virtual will apply the $2 annual fee for VirtualPIN-the personal identification number that stands in for a credit card number-to the customer's next purchase.

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