Financial Services Industry
Industry: Email Alert RSS FeedSmart cards signal a cashless society. (stored value cards)
Bank Marketing, April, 1995 by Morrall, Katherine
Stored value cards have tremendous potential since they could eventually evolve into a viable alternative to cash. Not surprisingly, these cards have become the focus of ambitious product development projects by financial services firms such as MasterCard International, Visa International, Midland Bank, National Westminster Bank and Electronic Payments Services. Among the projects underway are MasterCard and Visa's global stored value card program, Midland and National Westminster's Mondex card and Electronic Payments' experiment in linking stored value cards with a point-of-sale debit function.
Beyond credit cards and debit cards, financial services players are developing the smart card - one card that will fill all consumers' payment needs.
When all the nickels and...
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