In five years the Mondex Electronic Purse had gone from an idea, through a municipality-wide pilot, to a global alternative to cash. Many issues now confronted the senior management of the newly incorporated Mondex International Ltd (MXI). Among these were establishing an infrastructure to support, and policies to coordinate, the international banking consortiums that had joined the Mondex scheme, forging a migration path into the world of Internet based payments, and deciding what role MXI would play in new markets.