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.
