Mondex Signs Unisys for Help in Marketing Electronic Purse System

By Block, Valerie | American Banker, February 16, 1996 | Go to article overview

Mondex Signs Unisys for Help in Marketing Electronic Purse System


Block, Valerie, American Banker


Mondex has granted Unisys Corp. a license to help sell and deploy its electronic cash technology worldwide.

Unisys, based in Blue Bell, Pa., offers Mondex extensive experience in retail bank clearing and settlement systems and other payment systems. The company, reaching beyond its historical focus on computer manufacturing, said it is well suited to help the electronic payments industry move toward stored-value card technology.

Mondex, which was developed by National Westminster Bank of the United Kingdom, has manufacturing agreements with Hitachi, Panasonic, and Oki America Inc., among others. Natwest and Midland Bank, working closely with British Telecom, are testing the chip-card-based technology in the British town of Swindon.

In a partnership with Keycorp, an Australian terminal and smart card manufacturer unrelated to the Cleveland-based bank of the same name, Unisys will be able to provide Mondex licensees with equipment, consulting, servicing, and operating systems.

The Unisys agreement extends the "possibilities (of Mondex's) reaching the marketplace with a broader list of products that offer additional features," said Edward R. Berryman, Unisys' vice president of electronic commerce. …

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