Responding to msg by rah@shipwright.com (Robert Hettinga) on Wed, 10 Apr 5:53 PM
Chase, Citi, MC and others are offering a stored value card on the west side of Manhattan. They're saying that smart cards are faster than cash. Stick the card in, say yes to the amount. The terminals are wired directly to a bank account, so we're looking at a book entry system, it looks like...
The announcer is breathless at the possibilities....
I wonder if this is CAFE, Mondex, or what? anyone know?
---------- Yep, NYT has a story on it today, the testrun is in my own pigsty. It's by Citibank, Chase Manhattan, Mastercard and Visa: electronic cash loaded on a plastic card that can be used to make small purchases. The article also reviews the state of the art. Wanna see it from me, or try http://www.nytimes.com?