ROYAL BANK TO TEST E-CASH SYSTEM
By Adnews Staff
The Royal Bank of Canada has teamed up with Aastra Technologies Ltd. of Toronto and AudeSi Technologies of Calgary to allow consumers to make e-cash withdrawals and deposits using a telephone unit that works like an automated teller machine. To use the service, customers use a device that plugs into home phones. The service will be tested in 1999 by Royal Bank clients in Sherbrooke, Que. The system will use Royal Bank Mondex, a payment system where electronic cash is stored on a smart card. The device will allow consumers to transfer funds from person-to-person either at the same location or over the phone. It will also support popular telephone network services such as Caller ID, Visual Call Waiting and Voice Mail. Advertising for Royal Bank is handled by MacLaren McCann of Toronto. Aastra Technologies develops, manufactures and distributes telecommunications equipment. AudeSi develops, markets and licenses smart card-based terminals and subsystems.