Banks, Telcos, and Merchants Get Help Understanding the Future of Electronic Cash.PALO ALTO Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Calif.--(BUSINESS WIRE)--Aug. 1, 1996--An interview with Tim Jones William Timothy Jones (born December 1, 1962, in Sumter, South Carolina) was a Major League Baseball infielder. He is an alumnus of The Citadel. Drafted by the St. Louis Cardinals in the 2nd round of the 1985 MLB amateur draft, Jones would make his Major League Baseball , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Mondex, on the impact of electronic cash (E-cash) and smart cards Example of widely used contactless smart cards are Hong Kong's Octopus card, Paris' Calypso/Navigo card and Lisbon' LisboaViva card, which predate the ISO/IEC 14443 standard. The following tables list smart cards used for public transportation and other electronic purse applications. on banks, telecommunications companies See telecom company. , merchants, and consumers is now available at the Killen & Associates' Web site. Michael Killen, president of the research firm, interviews Jones who shares Mondex's business outlook and direction, and his vision of E-cash, security, the Internet, and micropayments. Insights and recommendations for moving forward with electronic commerce are provided. "Mondex is electronic money," Jones stated. "It's a product that's going to have a role that is fundamentally about replacing cash. We've come to market, focusing on relatively low value, spontaneous payments...Mondex's goal is to be electronic money in society, right across the value ranges. This includes micropayments on the Internet." "We've chosen to implement electronic money on a smart card," Jones added. "Therefore, technically, it's capable of living on that card alongside other business functions. Other people will present other business functions which we can then offer to consumers, on this single card." Topics in the interview also include electronic money trials, retail credibility, handling multiple currencies, value limits, and the continuing role of the credit card and the importance of its infrastructure to electronic commerce. Jones' commentary was taken from the research firm's two-part study, "New Delivery Channels for Banking Services," a compilation of interviews with thirty-six leading banking executives from around the world. The two-volume set -- "New Delivery Channels for Banking Services: The U.S. Market" and "New Delivery Channels for Banking Services: Asia, Europe, and the U.K." -- is immediately available. For additional information on the companys products and services or the Web site contact Karl Duffy at "karl@killen.com " tel. 415/617-6130, FAX 415/617-6140, "http://www.killen.com " Killen & Associates is a leading research and consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a to the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry. The firm helps banks, other financial services vendors, and their suppliers to seize emerging business opportunities. The company produces studies and seminars that enable high-level executives and their teams to identify business opportunities created by advances in computer and telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. technology, changes in public policy, and dynamic forces in the industries. CONTACT: Killen & Associates Karl Duffy, 415/617-6130 |
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