Mondex

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Mondex

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Description

Mondex is a smart card electronic cash system, implemented as a stored-value card.
Mondex was conceived by Tim Jones and Graham Higgins of the National Westminster Bank in the United Kingdom. The system was initially developed between 1990 and 1993, with internal trials being carried out by approximately 6,000 London-based NatWest staff from 1992. The system was publicly unveiled in December 1993.[1] Initial public trials of the payment system were carried out from July 1995, by the newly incorporated Mondex International in Swindon, Wiltshire. The public phase had required the development and manufacture of numerous merchant devices and smart cards, with BT, NatWest and the Midland Bank sponsoring and installing retail terminals at the car parks, payphones, buses and 700 of the merchants in the town, and issuing Mondex cards to the residents.

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