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Mondex to Take Part in BT's ADSL Trials

Mondex UK will work with BT in its ADSL trials, adding 800 test participants who use Mondex electronic cash to pay for items on the Internet.

The tests are supported by a range of software and services from the SmartAxis integrated business network. SmartAxis provides a multi-currency digital cash payment service to companies selling digital goods on the Internet.

"Credit cards are not economical for low value payments," said Julian Wilson, CEO of SmartAxis. "What SmartAxis plus Mondex provide is the opportunity to sell low value digital goods profitably."

"The partnership creates a real alternative to subscription and offers significant cost savings for sellers and buyers of digital goods."

Although the SmartAxis service is already operational with Mondex, it will have an official launch later in October. Its stated goal is to provide the most effective mechanism for selling low value digital goods over digital networks.

Mondex electronic cash can be used not only on the Internet but to purchase goods via TV set-top boxes or over mobile phones.

Banks in the UK that are able to issue Mondex cards include: HSBC, NatWest and Bank of Scotland, and the UK subsidiaries of the National Australia Group: Yorkshire Bank, Clydesdale Bank and Northern Bank.