As we continue researching the pre-Mondex cards of 1985 and 1986 we need to jump forward nine years to 1994 to Chicago in September of that year. That is when the American Bankers Association held their annual credit card conference and MasterCard issued MHQ (2) the Chicago ABA MastserBid Card. MHQ (2) is the first of two demonstration cards issued by MasterCard in 1995.
Given away 1994 to high-level credit card executive attendees at the annual conference which was held in Chicago, it was for very limited use only at the conference. The card was to be used at the MasterCard booth in the "MasterBid" game, where an attendee would walk from station to station and listen to MasterCard product presentations. The attendees for the most part were high level credit card executives who had little time and hence very little interest in going around the booth with the MasterBid card in order to be entered in a drawing at the end of the ABA conference (of course you needed to be present at the drawing to win). Most (99%) of the credit card executives attending were really not interested in a cash replacement card.
It was being positioned by MasterCard at the time as having higher security than magnetic cards, hence less fraud for lost or stolen card. Much of the discussion by attendees was "how much more does it add to the cost of issuing the cards". Cost per card has and will be a factor in issuing chip cards, whether they be credit, debit or a cash replacement card. If you look at the redesigned MasterBid pre-Mondex card given out at Retail Delivery Systems conference later that year (below, MHQ (3) and MHQ (3a)) how they both have magnetic stripes and a signature area on the back of the card. VisaCash.org is researching why this was done and why MasterCard changed its position between shows which was only a few months. It is also unknown how many MHQ (2) cards were issued or produced for this conference. Once an attendee went through the booth and obtained the card, they could not get a second card. We know, as this writer and a collegue tried and were both turned down.
After the booth closed many that were not later given away were destroyed by Master Card or simply thrown away. It is still very unclear as what happened to the MasterCard stored value card products between 1986 and 1994 when this card was issued, other than Russell Hogg MasterCard's president and stored value card product champion at MasterCard departed in 1989.