In September 1997 an experiment of a cashless community began by Mondex Canada, a subsidiary of Mondex International who had introduced this concept to England 2 years earlier. Machines were installed everywhere you would topically make a money transaction such as Supermarkets, Convenient Stores, Gas Stations, Parking machines, Pizza Delivery, vending machines. Then everyone received a card to be used for making purchases. Creating a cashless community similar to us using our debit cards, except we can still use paper money… Well Canada’s money is now plastic vs paper… But that’s another story.
Guelph, Ontario, Canada
For More Information:
- Cashless Society Put to Test in Ontario Town – The New York Times
Jay L. Strom and his wife, Margaret, have been selling sweet corn from a stand behind their century-old farmhouse near here for 20 years. But this season, for the first time, some local residents making their way along the country roads of southwestern Ontario near Toronto paid for their corn in a brand new way. Instead of prying small bills and Canada’s bulky $1 and $2 coins out of their pockets, they handed over electronic cash cards.
- Mondex – Wikipedia
Mondex is a smart card electronic cash system, implemented as a Stored-value card. Conceived by Tim Jones and Graham Higgins of the National Westminster Bank (now part of the RBS Group) in the United Kingdom. The system was initially developed between 1990 and 1993, with internal trials being carried out by approximately 6,000 London-based National Westminster staff from 1992.
- Electronic money – Wikipedia
Electronic money, or e-money, is the money balance recorded electronically on a stored-value card. These cards have microprocessors embedded which can be loaded with a monetary value.