Verifone Inc. said its recently introduced a line of smart card terminals, the SC Family, will be compatible with the Mondex electronic cash system.

As a result, retailers can readily add the Mondex smart card capability to existing point of sale systems. On top of Mondex's recent demonstration of interoperability with MasterCard and American Express smart cards, Verifone's active involvement could help accelerate Mondex acceptance.

"Having the support of such a worldwide market leader shows the speed with which the idea of electronic cash is becoming a worldwide reality," said Mondex chief executive Tim Jones.

The National Westminster Bank program has at least four pilots in various stages and is negotiating with 30 banks to introduce the system in more than 15 countries.

Michael J. Shade, vice president of chip card programs at Redwood City, Calif.-based Verifone, said it has been working much of the last year to get Mondex certification. "They want the world to know that the leading supplier of terminals will support Mondex."

Compiled by Valerie Block and Jeffrey Kutler

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