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P resentation to 6th CACR Information Security Workshop November 10, 2000

Learn how Mondex E-Cash Technology ensures privacy protection through technical design. Explore its benefits for consumers, merchants, and financial institutions, emphasizing privacy principles and safeguards. Discover the unique features of Mondex E-Cash for secure and efficient transactions.

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P resentation to 6th CACR Information Security Workshop November 10, 2000

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  1. Presentation to 6th CACRInformation Security WorkshopNovember 10, 2000

  2. PRIVACY PROTECTION MADE SIMPLE:How technical design can help you meet your commitment to privacy in the marketplace

  3. Who and What Is Mondex • When & Where will it be used • How does the Mondex Technology protect privacy of the individual

  4. MONDEX e-cash • An e-cash application on a MULTOS smart card chip • Lockable/re-loadable • chip-to-chip • Instant transfer of value • No POS settlement

  5. MONDEX -e-cash • Cash alternative • Limited record on chip • ‘real’ and ‘virtual’ applications • Global /Multi-currency • Entrè to smart card platform

  6. Implementations • Guelph, Ontario - Sept 96 - December 98 • Sherbrooke,Quebec - August 99 - and continuing

  7. Mondex in Sherbrooke • Mondex e-cash/Interac debit/client combo card • Bishops University &Champlain College Student/Mondex combo card • $500 card load limit

  8. Mondex in Sherbrooke • Physical world load/purchase • UPOS • Internet load/purchase • loyalty • Community Access Program

  9. Convenience • Accessibility • On chip record of recent transactions • Home load • Internet purchases CONSUMER

  10. Reliable-Off line payment • Higher security • Low transaction cost • Reduced cash handling MERCHANT

  11. Strengthen customer relationships • New financial and commercial partnerships FINANCIAL INSTITUTION

  12. Future of Smart Cards • Multi-application cards • Canadian chip migration project for payments (Visa/MasterCard /Interac/Mondex) • 7-10 year time-frame

  13. Privacy and Smart Cards • The reality of smart cards is the carriage of many application and the availability of a large volume of personal data that can be tied to an individual

  14. How does Mondex Protect Privacy • Principles protected: • Limits for collecting personal information • limits for using, disclosing and keeping personal information • keeping personal information accurate • safeguarding personal information

  15. How does Mondex Protect Privacy • Limits for collecting personal information • loads from account • deposits into account • lost transactions

  16. How does Mondex Protect Privacy • Limits for using, disclosing and keeping personal information • safeguard deposits • to re-imburse for non-performance

  17. How does Mondex Protect Privacy • Keeping personal information accurate • load and unload are online • rolling 10 transactions provides exact spend and retailer name

  18. How does Mondex Protect Privacy • Safeguarding personal information • firewalls in Multos - between applications - ITSEC 6 designation • transaction data to retailer is deliberately limited • individual transaction data is not collected by banks - Mondex is an unaudited system

  19. Summary • The unique privacy features of Mondex e-cash were a deliberate design • unaudited • limited transaction information to retailer • specific and limited information collected by FI • accurate rolling record for customer • firewalls between applications

  20. Thank You______________ www.mondex.ca

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