It was Mondex International that developed a system called Shielded Signature.

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Mondex, an electronic wallet developed by British National Westminster Bank, is the earliest electronic wallet system in the world. It was first tried in June 1995 in Swindon, which is known as the "Silicon Valley of Britain". At first, it was not so famous, but it soon opened in Winston and was widely used in supermarkets, bars, jewelry stores, pet shops, restaurants, food stores, parking lots, telephone rooms and public transport.

Mondex is a smart card-based system. Mondex card has the same size as standard IC card, and there is an 8-bit microcomputer on the card to record and process data. Mondex card stores electronic money in the microcomputer on the card.