Keycorp, the Australian terminal manufacturer, said its K22 smart card terminal has been approved by Mondex.

The approval will permit use of the terminal in any of the upcoming Mondex trials scheduled around the world.

The terminal, which features four mini-smart-card modules, allows the terminal to support multiple schemes.

In November, Keycorp signed a preferred-supplier agreement with Mondex, the London-based stored value system that MasterCard International is buying.

The Australian company is not related to KeyCorp, the U.S. banking company.

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