CANADA BECOMING CASHLESS
By Adnews Staff
Guelph, Ont. will take Canada one step closer to becoming a cash-free society. The city will be the first Canadian test site for an electronic cash system called Mondex which was developed in Britain. The Canadian Imperial Bank of Commerce, the Royal Bank of Canada and Bell Canada have teamed up to market a "stored-value" card containing an electronic chip. The card is loaded with a cash balance which diminishes when the user makes a purchase. The Canadian test will begin in the latter half of 1996, and plans call for making the card available worldwide in 1997. The card could be used in fast-food restaurants, convenience stores, department stores, vending machines and even at hot dog stands. Advertising will be handled by the banks but its too early to tell which agency will do it, Bell Canada spokesperson Perry Blocher told Adnews yesterday. Padulo Integrated handles most of the CIBC's advertising while Harrod & Mirlin and the Russo Agency do projects. All three agencies are in Toronto. Royal Bank uses a pool of Toronto agencies: MacLaren: McCann, Roche, Macaulay & Partners Advertising, FCB Direct and MacLaren Direct. It also has work done by Clewes & Co., which was folded into Marshall Fenn earlier this year. In Montreal, the bank uses Allard SMW et Associés.