Somewhere, Doug Barnes is smiling...
Cheers,
RAH
--- begin forwarded text
Date: Fri, 07 May 1999 16:30:01 +0100
To: e$@vmeng.com, [EMAIL PROTECTED], [EMAIL PROTECTED]
From: Rachel Willmer <[EMAIL PROTECTED]>
Subject: [ANN] Intertrader announces Mondex Internet Cafe at Bank of
Scotland
Sender: [EMAIL PROTECTED]
Reply-To: Rachel Willmer <[EMAIL PROTECTED]>
PRESS RELEASE
FOR IMMEDIATE RELEASE
Edinburgh, 5 May 1999:
Intertrader announces
World's First
Mondex Internet Cafe
at Bank of Scotland
The Internet Cafe is the World's First use of
Mondex to pay for Internet access and has been
designed by Intertrader using their innovative
Intertrader CashBox(TM) technology.
The Internet Cafe went live on 23rd April 1999.
From 23rd April 1999, staff at Bank of Scotland can buy Internet
access using their Mondex cards; the cash transaction is made
automatically and immediately over the Internet using the Intertrader
CashBox(tm) technology. This is the world's first use of the Mondex
digital cash smart card to pay for Internet access over the Internet.
Two Internet PCs have been installed in one of Bank of Scotland's
staff restaurants. Internet access can be purchased from these
machines by paying a 20p charge (approx. 32 cents or 0.30 Euro) for a
15 minute session. The Mondex card is inserted into a Gemplus smart
card reader attached to the PC. The user enters their Personal Code to
authenticate their use of the card and then confirms the payment. The
cash is automatically and immediately transferred from their Mondex
card, over the Internet, directly to the Mondex card attached to the
Intertrader CashBox(tm).
Rachel Willmer, CEO of Intertrader, said "This project demonstrates
how rapidly Internet solutions requiring digital cash payments can be
deployed using Intertrader's CashBox(tm) technology and how extremely
suitable the Mondex digital cash smart card is for low value
transactions over the Internet. We anticipate our CashBox(tm)
technology to be of particular interest to providers of digital
services, for example, pay-per-view operators or online games
companies."
She continued: "Using CashBox(tm)-based Internet solutions and Mondex
cash, payments can be made directly to the seller from the buyer and
the seller gets the full purchase price immediately with no
third-party commission to pay. Using this technology, low-value
spontaneous Internet transactions become economic. "
Intertrader will be demonstrating this world-leading e-commerce
innovation next week in Chicago at CardTechSecurTech 99 (May
12th-14th), at the Internet Village on Mondex International's Stand
(355).
Christine Peace, Director of Smart Cards at Bank of Scotland said "We
are delighted to be working in partnership with a local Scottish
company to deliver this innovative use of Mondex. We believe that the
use of the Smart Card for both authentication and micro-payments over
the Internet will be significant over the next few years and the Bank
is now positioned as the clear leader to take forward business
opportunities in this exciting new area."
Thaer Sabri, Project Manager, Mondex International commented, "This
announcement represents an important milestone in the development of
Mondex solutions for e-commerce and we are very pleased to be working
with Intertrader on this groundbreaking project. Mondex has a unique
capability to tap the potential of this rapidly growing marketplace."
Mondex is uniquely suited to the world of e-commerce because of its
high security and multi-currency capabilities; furthermore Mondex's
'virtually zero' transaction cost uniquely enables it to handle
micropayments cost effectively, an essential part of e-commerce.
For more information, please contact :
Rachel Willmer
Intertrader Ltd
4 John's Place
Edinburgh EH6 7EL
U.K.
Phone +44 (0) 131 475 7108
Fax +44 (0) 131 475 7109
Email [EMAIL PROTECTED]
###
NOTES FOR EDITOR
Intertrader Ltd
---------------
Intertrader is an Internet commerce company based in Edinburgh,
Scotland, specialising in Internet payment and authentication
systems. Intertrader's innovative CashBox(TM) technology enables the
rapid deployment of light-weight digital cash based Internet
solutions. Currently supporting the Mondex smart card, Intertrader
intends to extend the CashBox(TM) to support other smart-card based
cash schemes such as Proton and VisaCash in future releases.
In 1998, the Department of Trade and Industry awarded Intertrader the
1st Scottish Foresight Award for "exceptional vision in developing and
applying new technology and opening new market opportunities".
Further information regarding Intertrader is available from their
website:
http://www.intertrader.com
Bank of Scotland
----------------
Established by an Act of the Scottish Parliament in 1695, Bank of
Scotland is a leading British clearing bank with its headquarters
firmly planted in Edinburgh.
In the region of 21,000 staff are employed by the Bank of Scotland
Group, with Regional offices and departments supporting the activities
of some 325 Branch outlets, meeting the banking needs of all areas of
the community.
Although predominantly based in Scotland, corporate offices are
situated in the major commercial centres of England and overseas in
New York, Chicago, Houston, Jacksonville, Los Angeles, Boston,
Seattle, Hong Kong, Paris, Frankfurt and Moscow.
Operating profits before provisions for the Bank of Scotland Group
(whose principal subsidiaries are BankWest in Perth Australia, Capital
Bank plc, British Linen Bank Group Limited and Bank of Wales PLC) were
1,096.6 million GBP in the year to February 1999. Earnings per 25p
Ordinary Stock unit were 42.1p and pre-tax return on average equity
was 32.4%.
Over the years, Bank of Scotland has earned a reputation as a highly
respected organisation and is widely recognised as an innovative and
forward thinking player in the financial services sector.
Further information regarding Bank of Scotland is available from their
website :
http://www.bankofscotland.co.uk
Mondex International
--------------------
Based in London, Mondex International Limited (MXI) is a world leader
in the provision of smart card based products and services. The
company is a subsidiary of MasterCard International Incorporated and
employs over 180 people at its London headquarters and at technology
centres around the world.
Mondex's unparalleled expertise has been applied to a range of new
products being developed by MXI including the loyalty application,
Interactive Loyalty.
MXI is also responsible for the development of MULTOS, the open,
industry standard, multi-application operating system for smartcards
managed by MAOSCO.
Further information regarding Mondex International is available on
these web sites:
http://www.mondexinternational.com
http://www.mondex.com
http://www.interactiveloyalty.com
END
###
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-----------------
Robert A. Hettinga <mailto: [EMAIL PROTECTED]>
Philodox Financial Technology Evangelism <http://www.philodox.com/>
44 Farquhar Street, Boston, MA 02131 USA
"... however it may deserve respect for its usefulness and antiquity,
[predicting the end of the world] has not been found agreeable to
experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire'
