Mondex International has introduced what it says is the first multicurrency smart card capable of carrying an electronic version of the euro.

Mondex, a subsidiary of MasterCard International, demonstrated the card at Omnicard, a German smart card conference. Mondex officials said the product highlights the flexibility of the Multos operating platform that underlies their smart card system.

European nations that have adopted the euro are still three years away from issuing euro notes and coins.

Owain Powell-Jones, the Mondex executive in charge of business development in northern Europe, said, "Through our unique multicurrency capabilities, Mondex has the capability to bring the benefits of the single currency to the people of Europe today."

Mondex officials said the product's introduction gives the company a "three- to four-year time-to-market advantage" over competing technologies that have yet to define their multicurrency requirements.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.