http://www.mondex.com/

Got rid of mine back in 2000

Could someone explain this to me a little more because I believe I am missing something. This card sounds exactly like a debit card.

Yeah kinda does huh! But I guess you could take from this the obvious that , it sets up the world for the use of a chip in the hand/forehead doing the same thing. Just does away with the hassle of carrying a card. Things are getting close!

Master card has a website dedicated to businesses trying to get a better handle on purchases. Even though Mondex is a card, it is a smart card with a microchip in it. Mastercard tells businesses in their presentation that it is the way of the future to be able to use the technology of the Mondex (name is strikingly similar to hand) to open hotel doors, insert in your laptop and pay for hotel and airplane flights, stick into a candy machine and pay for candy and sodas. Even though Mondex is a smart card and does not get into the biochip realm, it is still a prediction of where the next technology is going. Visa's President has even said that his main goal is to get people to stop using cash and their checkbooks. Everyone uses ATM cards, but the implementation of chips will result in the next few years of the widely used biochip. The reason for this is that they will claim that the cause for identify theft is due to the fact that cards can be stolen. I guess the true message here is that we all really need to determine how we are going to make it when Visa and Mastercard no longer put their name on the ATM check cards, thus taking away the security from us for identity theft liability. Did you know that Visa and Mastercard state that if their logo is on your ATM check card and you have identity theft, then you are only liable for the first $50 dollars for fraudulent charges no matter how much time has passed? If you do not report the fraud to your bank within 60 days, then they will make you responsible for up to $500 of the theft. My sister just had her identity stolen from someone in Spain. The got a hold of her ATM info from the internet and began charging gasoline all over Europe. I believe that technnology just like this is a smokescreen that is sparking interest in people so that they will be "dummed down" when the real mark like the one from Applied Digital Solutions in Florida called Digitial Angel will be used. As small as a grain of rice with a lithium battery content that recharges itself in the right hand or the forehead, the only two places in the body it can do this. If the lithium content disentegrates in the body, a person will get grevious sores all over them.

Mondex was born off-line and is migrating toward the Internet. Mondex is entirely chip card-based, and it is unique in that it can accommodate card-to-card transfers. Like the eCash system, Mondex uses bearer certificates; funds are stored remotely on the user s actual card. Unlike eCash, however, Mondex funds can be transferred from one card to another indefinitely without requiring central clearing or verification by a bank or processor. Therefore, Mondex is the closest of all the digital cash systems to real cash. The key difference between Mondex and cash is the audit trail that Mondex provides. Mondex cards record each transaction with a unique identifier that can be used to track funds if necessary. The key to Mondex is its security, which exists in two primary aspects of the system: the hardware of the card, and the value transfer process. Mondex banks on the security of its chip card system. The notion behind Mondex's hardware security is that funds cannot exist anywhere but on a Mondex card. Even the central issuing facilities rely on racks of high-dollar Mondex cards to store and write value to the cards that are issued for public use.

Once in use, no other chip card or hardware device posing as a Mondex card could interface with a real Mondex card. Mondex cards detect spoofs and refuse to transfer money to them. The system relies on the fact that each card is certified by a Mondex digital signature. The transfer process itself is also extremely secure. When a transfer occurs between a consumer and a merchant, for example, the two cards not only verify each other s authenticity, but the transfer occurs in a sequential process so that funds cannot possibly exist in two places at once. Funds are deducted from the consumer s card before they are written to the merchant s card. It doesn't work any other way.

Because Mondex is a card-dependent system, one of its biggest stumbling block is that it requires card readers in the hands of consumers. This is no trivial requirement. It makes one wonder whether DigiCash might have been right to have introduced eCash as a software-only system for the Internet. Nonetheless, Mondex will do all right. Devices like the VeriFone VeriSmart card reader are available for around $100, and the prices will fall over time. For around $60 a user could buy one of the new card readers from InteliData that are built into standard 3.5" floppy diskettes. These devices will need to be formatted so they can interact with Mondex cards, but that will happen soon enough.

I think the Fall trial of Mondex on the Internet, using AT&T employees as a beta market, will show that Mondex is a secure and cost-effective Internet payment system. With the proliferation of card readers from companies like VeriFone, InteliData, GemPlus and others, the technical barriers will fall.

A more significant barrier to Mondex is an economic barrier: it is not clear how banks are going to make money on it. To begin with, the issuing institution does not profit from any float. To issue Mondex money involves buying it up front from Mondex. Only then can a financial institution issue Mondex funds to its customers. Once funds are in the market, the financial institution likely will not collect transaction processing fees, because the system does not necessarily require bank involvement unless a user wanted to make a deposit/withdrawal or just exchange the Mondex card for cash. Economic barriers aside, I think Mondex is the best of the digital cash schemes in terms of long-term viability. It's a cool system.

Visa Cash
Visa Cash answers some of the tough economic questions presented by Mondex, in that the issuing financial institution earns float on Visa Cash. A bearer certificate product from Visa, Visa Cash is chip card-based. Any Visa bank can issue Visa cash, and earn float income and, in the case of disposable Visa Cash cards, residual value that gets forgotten or discarded by consumers.
The system made a splash at the Atlanta Olympics, but the trial has since settled down to just a trickle of transactions. It is not clear when Visa will announce a trial of Visa Cash on the Internet. Considering the recent Internet trial announcement by Mondex, of which MasterCard is a majority owner, Visa will likely introduce something soon.

While Visa Cash is an easier sell to the banking industry from a financial perspective, it lacks some of Mondex's versatility. With Mondex, users can transfer money from card to card indefinitely. The bank need only be involved if a deposit is made. With Visa Cash, consumers don't have that luxury. One reason is that banks would have to forego the current processing fee they charge for each merchant deposit. Another is the perceive security threats from having digital cash "out there" where banks can't keep an eye on it.

A third reason is the float. Imagine if consumers could make card-to-card transfers? For example, Bank A, Bank B and Bank C issue Visa Cash to consumers A, B and C respectively. If consumer A pays $30 to consumer B, then consumer B now has a card with Visa Cash issued from both Bank A and Bank B. If consumer B now pays $20 to consumer C, how should the chip cards determine which bank's Visa Cash to transfer? It may seem immaterial, but if consumer C were to make a deposit, the banks that issued the deposited Visa Cash are going to loose float. Arbitration rules are needed, like first in/first out or last in/first out, but no such rules exist for Visa Cash. Until they do, Visa Cash will have less flexibility than Mondex.

It really is merely a higher tech card is all. However, I believe the intent sharing the article points towards the continuing conditioning process so when the real mark of the beast is implemented, the masses won't view them as anything sinister.

The technology is and has been available for some time now. That is the implantable microchip. Currently however very few would accept it. If people get conditioned/used to using technology that makes things simpler and easier it gets accepted.

The next step is the scary one. Anything not implanted is still something that can be lost and stolen so next comes implants.

Yep Yep

Gotcha'

Master card just released this month its new payment method where you just swipe and go. I think Visa will want to go with this new technology soon also. However, we will see how fast all the convenient stores will swap over. All I see is in a really short time, Visa and Mastercard will pull their fraud backing from ATM cards and want to go with implantable chips due to the large amounts of money they are shelling out to identity theft cases. I was watching a t.v. special last week on a guy who is in jail, but talked to reporters about how easy it is to become another person....he said he can get everything about a person including their social security, drivers license, bank account info, ATM card, etc. in three hours. At this time they were saying the identity theft thing is no big deal because they are making up the lost dollars on selling your information to other companies. But I think as identity theft gets worse, there will be one database and information will be sold because it will be kept in one computer for people to access. In this case they will want to significantly reduce the risk for identity theft and not have something that could be stolen.

That goes right along with my prediction of chips being implanted to identify you as a citizen of the US.

And what will happen if there is an electromagnetic pulse?

"One type of EMP is a gigantic electromagnetic pulse which is generated when an atomic bomb goes off a few miles above a city. It could induce electrical currents inside electronic equipment for 30 miles around, completely destroying them. It could wipe out all the high technology in a city, leaving people to live in the dark ages. "

Good thing I have a gas generator...

What will happen if some hackers figured out how to modify the microchip value inside the card?
$$$$$


lol

I know a few people who would do something like that...

I don't know if anyone has seen it yet, but the other day I saw a commercial for an implanted microchip for animals. I can't remember the name of it, but the whole 'purpose' is to be able to track your animals if they become missing. They don't say it, but I guarantee their using satelite to track these chips.

Talk about conditioning, huh?

Are not animals in the Bible are called beasts? So the veri chip is a mark of the beast in a literal sense and not just a symbolic sense ?

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In Thailand we are using the ID card with chip already, can anyone help me clerify this topic please.

What is Mondex®?

Mondex, part of the MasterCard International suite of smart card products, enables cardholders to carry, store and spend cash value using a payment card. It is faster than handling........................ conventional currency,,,,,,,,,,,,,,,,, and in many cases safer. It behaves exactly like cash, offering immediate transfer of value while requiring no signature, PIN or transaction authorization. The unique Mondex platform allows its use in multiple channels where cash cannot be used including:


THIS IS THE BEGINING OF THE CASHLESS SOCIETY..................

Yes and no!

That's why the Bible is soo rich!

$eXcellent point .... and this will happen........................ hence we are moved eagerly into the chip................... insertion on the back of the hand or forehead.

No one can steel our identity if it is with us at all times.............

Unless your killed and they take your hand..................literally........

Here we go.....................

I never got a credit card. I always firgured money I didn't actually have being at my disposal was a bad idea. I wish we could just go back to gold. It'd solve a lot of problems.

California Dreaming! I can't PM you for some reason. I think your mailbox is full. Check with a Mod to see what's going on. I get this message when I try to PM you.



Please let me know. Thanks.
HB