Of those, 30 million are Proton electronic purse cards, which are accepted at 200, 000 terminals in 15 countries, including Australia, Belgium, the Netherlands, Sweden and Switzerland.

CNN: Will smart cards replace ATMs?

Banksys, which had been developing and marketing Proton electronic purse technology, is spinning-off the technology arm of its company and bringing in American Express, Visa and ERG to form the new company.

CNN: Will smart cards replace ATMs?

Each month in Belgium, more than 2.3 million electronic purse transactions are performed using Proton-based cards.

CNN: Will smart cards replace ATMs?