Specialists skeptical of Mondex purchase...
"Some smartcard specialists fear Mastercard could hold back the electronic purse technology developed by Mondex International, following its agreement to buy the UK firm last week. Concerns were prompted by a teleconference last week in which Mastercard president Eugene Lockhart estimated it could take up to 10 years to roll out an infrastructure for the Mondex cards. 'It is going to take us quite a bit of time to come up with the right terminal policy," he said.
Bill Seebeck, specialist in global electronic currency and managing director of consultancy Grant/Seebeck International, warned: 'While Mondex International hopes to gain brand distribution with Mastercard, Mastercard takes the biggest threat to its business out of the game." Seebeck claimed the Mondex card would have been rolled out within the next couple of years...."
Computer Weekly (U.K.), November 28, 1996
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