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(Nikkei BP Group)

(No.1 High-Tech News Site in Japanese)

  • Three Japanese Financial Institutes Become Mondex Franchisees
  • February 19, 1999 (TOKYO) — Mondex International Ltd. of the United Kingdom franchised its Mondex electronic money to three Japanese financial institutions.
    They are Sanwa Bank Ltd., JCB Co., Ltd. (a major credit card company in Japan) and MasterCard International of Japan.

    Mondex is a subsidiary of MasterCard International Inc. of the United States,

    The franchisees will have sales rights for Mondex and issuance of Mondex cards in Japan.

    Mondex said that the franchise contracts mark the first step for its business expansion in Japan, and that it is negotiating with other financial institutions including Asahi Bank Ltd., Sakura Bank Ltd. and credit card companies.

    Mondex also said that it will soon commercialize a multi-use card using multi-application operating system (MULTOS), an operating system for smart cards that makes it possible to install several applications into one card.

    A multi-functional smart card can be used as a commuter pass, a members’ card, a company ID card and a health insurance card, as well as a card for Mondex’s electronic money.

    More information in English is at: pl?&path;=../documents/newsb1j87.txt&user;=

    Related story: Hitachi Develops MULTOS Card Chip for Electronic Money

    (Nikkei New Media)

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