m banks (Woods, 1995).
In 1996, British consumers began using Mondex cards to pay for public transport fares. This use of the Mondex card to pay mass transit fares is made possible by a unit called the Modula-Executive, which is compatible with PCs supporting VGA video standards and connects to the CPU via a single cable. Activation of the 10.4-inch touch-screen (TFT active-matrix) can be by either finger or electronic pen ("British Try Bus Cards," 1996).
The Royal Bank of Canada and the Canadian Imperial Bank of Commerce introduced smart cards (the Mondex system) in Canada รน the first banks to offer smart cards in North America. The banks conducted a pilot test in a Canadian community in 1996, with the national introduction in 1997.. Cost to consumers for a Mondex card and balance reader ranged from C$1.25 and C$3 per month.
Japanese banks introduced a smart card system designed to provide consumers access to cash in their bank accounts and to facilitate electronic payment transactions. Th
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