THIS WEEK: Deal speeds Mondex

MasterCard International is to speed up the launch of electronic-purse

system Mondex in the UK, following its acquisition this week of 51% of

Mondex International.

The reported pounds 100m deal will provide MasterCard with the

technology to take on the rival card system Visa Cash and spells the end

of MasterCard’s own MasterCard Cash system.

Eugene Lockhart, chief executive of MasterCard, said substantial

marketing resources would be committed to introducing the system to the

consumer and the Mondex name would become one of the firm’s sub-brands.

Mondex is not expected to be launched nationally in the UK until 1998

but any date will depend on negotiations with MasterCard’s member banks.

Mondex has tested the system in Swindon, where there have been 13,000

users for over a year.

This article was first published on Marketing