The advantage of (1)Mondex card is that it can receive electronic cash directly from the user's bank account through a dedicated telephone. Cardholders can spend money at any merchant with Mondex credit card reader. Two cardholders can also transfer cash between their Mondex cards by phone. At the same time, a card can be used not only in the network environment, but also in ordinary stores. Another advantage is that customers can find change in various vending machines.

(2) 2) Disadvantages of Mondex card: it stores real cash in electronic form, and users will not store large amounts of money on the card for fear that the card will be stolen. Moreover, Mondex card does not have the advantage of credit card deferred settlement, and cash must be paid immediately.

Mondex, an electronic wallet developed by British National Westminster Bank, is the earliest electronic wallet system in the world. It was first tried out in Swindon, known as the Silicon Valley of Britain, on July 1995. It can realize deposit and withdrawal and provide anonymous and seamless service. At first, it was not so famous, but it soon opened in Winston and was widely used in supermarkets, bars, jewelry stores, pet shops, restaurants, food stores, parking lots, telephone rooms and public transport. This is because e-wallet is very simple to use. Just insert the Mondex card into the terminal, and after three or five seconds, the card and receipt are paid from the device, and a transaction is over. Readers will deduct the cost of this transaction from all the money in Mondex card. In addition, Mondex card also has many properties of cash currency, such as being a commodity scale, saving and payment exchange. The money in one card can also be transferred to another card through special terminal equipment, and once the money in the card is used up, lost or stolen, the money value in Mondex card cannot be reissued, which means that the cardholder must bear the management responsibility. When Mondex card is damaged, the cardholder will declare the balance in the card to the card issuer, and the card issuer will make a new card and return it. Mondex card terminal payment is just an early application of e-wallet, which is similar to smart card in form. Today, the electronic wallet in e-commerce has completely got rid of the physical form and become a real virtual wallet. Mondex is a flexible electronic cash, which can easily transfer funds between one Mondex e-wallet card and another Mondex e-wallet card. Another feature of Mondex is that its transactions are not tracked, which is also the most controversial place of Mondex e-cash. Some people say that because banks can't track and audit every transaction, it creates conditions for criminals to illegally transfer funds; Moreover, because there is no bank audit clue, it also puts forward much higher requirements for the security realization in the technical field. But some people say that this is exactly the most flexible and superior place of Mondex. It is precisely because Mondex electronic cash can easily realize the untraceable transfer of funds between cards, so Mondex is the real electronic cash, which can guarantee the privacy of cardholders. It is conceivable that cardholders sometimes don't want their behavior to be recorded by the bank's computer when using e-wallet for online payment. We can see the use of Mondex e-wallet in the following countries or regions: Britain, France, Norway, Australia, New Zealand, Costa Rica, Hong Kong, the Philippines, Israel, Canada, the United States and so on. From the global and Mondex development history, the development of Mondex is now at a low point. Mondex recently closed its San Francisco office and transferred all its technical, management and licensing functions to mastercard international, new york. The e-wallet experiment jointly conducted by Mondex and Visa in new york ended in failure. The only positive conclusion is that Mondex and Visacash can still be saved. In Europe, Mondex has signed licensing agreements with France, Ireland, Norway and Britain, and licensing authorization with other European countries is still under negotiation. Keycrop and Comerica, two major financial institutions in the United States, purchased Mondex authorization on May 1999 to promote Mondex e-wallet in the United States. In addition, Mondex International also obtained the American patent of its contactless Mondex smart card in the expressway toll collection system. Ghana Commercial Bank purchased the license of Mondex e-wallet on June 5438+0988 1 1, and is still negotiating with some other banks in Ghana and West African countries to establish a public e-wallet technology infrastructure in the economies of West African countries. At present, Mondex's largest market should be in the Asia-Pacific region, and Australia, Hongkong, Macau, Taiwan Province Province, Japan, India, Indonesia, Mauritius, New Zealand, the Philippines, Singapore, Sri Lanka, Thailand and Vietnam have all obtained licenses. Hong Kong has issued 6.5438+0.8 million Mondex e-wallet cards, which can be recharged at more than 700 ATMs, and more than 7,000 merchants accept Mondex. Now MasterCard /Mondex International plans to provide Mondex e-wallet based on Multos platform in the future to accommodate more applications on one card. Japan's Sanhe Bank and JCB Credit Card Organization were authorized by Mondex on 1999, and they also plan to provide Mondex electronic cash based on Multos platform. Sanhe Bank is one of the top ten banks in the world, and JCB has nearly 40 million cardholders in Japan. Mondex is also negotiating with other major financial institutions in Japan, such as Asahi Bank and Sakura Bank, as well as some credit card companies, and plans to implement Mondex e-wallet throughout Japan. Mondex's recent progress in Korea is also remarkable. Its organization in Korea was established in June 1999. According to Mondex International, some big Korean companies have expressed great interest in developing Mondex e-cash project. Among them, Korea Telecom will transform its existing communication facilities to make them compatible with Mondex e-wallet, which involves transforming 6,543,800 public telephones. Korea Telecom has established strategic alliances with Mondex's office in South Korea, Korean banks and credit card organizations, and some venture capital institutions to implement this plan. In addition, kookmin bank has issued 20,000 Mondex e-wallets based on Multos, which can be used in COEX, the main conference center in Seoul. Mondex also plans to vigorously promote Mondex e-wallet in the field of online payment: In order to encourage more people to use Mondex e-wallet for online shopping, Mondex plans to distribute 200,000 smart card readers connected to PCs for free in Korea.