ATT, Mondex make small change
EXCERPT:
March 12, 1997 6:00 PM PST
Smart cards pay for Net access
March 11, 1997
Security key for smart card
December 5, 1996
MasterCard to take over Mondex
November 19, 1996
AT&T opens gate for e-commerce
September 11, 1996 Internet World LOS ANGELES--AT&T (T) said today it will begin testing the Mondex smart card scheme for Internet payments of $10 or less.
The announcement with Mondex, which has emerged as a leader for smart card payments since MasterCard bought a controlling interest in the company last year, was the most significant of several AT&T Internet commerce announcements today at the Internet World trade show.

"Transaction costs make low-value Internet sales too expensive for merchants to accept using traditional payments methods like credit cards," said Keith Kendrick, an AT&T senior vice president for smart payments. "While Mondex also works for large transactions, it makes sales as low as a few cents commercially viable for merchants."

AT&T's Mondex announcement follows news yesterday that Digital Equipment (DEC), plans to bring payments of $5 to less than a penny to the Internet in its Millicent program.