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This paper presents a formal specification of Mondex, an electronic purse, using SAM. Mondex is the first pilot project for the 6th Grand Challenge to develop an integrated, automated toolset that developers can use to establish the correctness of software. Several research groups around the world have applied different formal methods in specifying and analyzing the Mondex smart card since 2006. Our specification is unique, which uses a software architecture model integrating high level Petri nets and temporal logic; thus contributes to the world wide effort in tackling one of the grand challenges in computer sciences.