To: donkeyman who wrote (1432 ) 6/22/1999 7:22:00 PM From: Jeffrey D Respond to of 3519
Some more Firecrest history. Jeff << Netex And Mondex Enter Alliance To Deliver Integrated Smart Card Solutions Across The Net 6 Aug 96 6th August 1996 - Netex Communications Corporation - a Firecrest Group Plc subsidiary - and Mondex International Limited, today signed a strategic alliance agreement that will enable the delivery of global smart card applications using the Internet Transphone product. Under the agreement, Netex will develop, integrate and market the 'Transphone' smart card based solutions through Netex's current and developing corporate client base and the Mondex groundbreaking electronic cash products. Mondex International has now been established as an independent payments organisation (announced 18th July 1996). Mondex International is owned by 17 major organisations across four continents (North America, Asia, Australasia and Europe). The new organisation headquartered in London, will be responsible for managing the future development and international implementation of Mondex. Mondex is being introduced as a global alternative to notes and coins. It can be used for everyday shopping as well as for monetary transactions between banks, customers and businesses. Today's agreement means that Mondex will become the electronic cash system to be used with Netex's Transphone. The Transphone innovation has significant benefits, including increased consumer convenience, reduced handling costs, shorter purchase lines and better protection against losses due to fraud. Working with leading retail partners already on-line, Transphone looks set to make the integrated solutions available world-wide to Internet retailers and consumers. In addition to the core Transphone product software, Netex will provide business consulting, integration and implementation services to assist users in planning, developing and deploying payment solutions that meet the specific requirements of their business or home Internet markets. "Mondex expects to derive significant benefits from this alliance with Netex," said Michael Keegan, Chief Executive Officer, Mondex International. "Netex presence in the new media marketplace and expertise in delivering bespoke integrated solutions through Transphone will open up new opportunities for clients to benefit from Mondex's proven smart card technology." According to Gary Trowsdale, Netex Communications Corp, "Mondex is rapidly establishing itself as the industry leader in electronic cash. By including this leading- edge technology within our groundbreaking retail product, Netex can influence, develop and service an entirely new cashless society on-Iine." About Mondex Mondex International Limited is responsible for the future development and introduction of Mondex, the most cash-like of the electronic cash initiatives which are beginning to be introduced around the world. Mondex is a more efficient alternative to physical notes and coins for use in everyday shopping and as a future payment mechanism in a wide variety of areas such as the Internet and 'pay-per-view' TV. Mondex is being launched in the UK by a joint venture of Natwest and Midland Bank working with BT (British Telecommunications Plc) who, together, are piloting the service in Swindon, a large town of 190,000 people in the Southwest of England. The first Noah American community trial will take place in Guelph, Ontario in 1996 through Canadian lmperial Bank of Commerce and Royal Bank of Canada working with Bell Canada. Before the year end, HongkongBank will initiate its launch at two sites, one in Tai Koo Shing on Hong Kong Island and the other in Sha Tin in the New Territories. Wells Fargo Bank has also begun a US pilot in San Francisco through an in-house trial involving employees. About Netex Founded in May 1996 with headquarters in New York, Netex specialises in developing innovative, advanced Internet end-user peripherals for processing financial transactions and Internet Telephony. The Internet Transphone product functionality includes Internet telephony software, as well as magnetic stripe and stored value (smart) card. -------------------------------------------------------------------------------- Robin OKelly, Mondex Phllip Tucker, Netex Communications Corp. Tel: +44 (0) 171 409 1214 >>