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CASHING OUT ON CARDS: CHASE, CITIBANK WILL END JOINT TEST OF ELECTRONIC CARDS FOR PURCHASES.
Crain's New York Business, November, 1998
The well-publicized attempt to get consumers on the Upper West Side to use electronic cards for small cash purchases was officially pronounced a failure when its sponsors said they would conclude the test at the end of the year. Chase Manhattan and Citibank said their joint effort never convinced consumers that cash cards were superior to cash.
Efforts to use the concept will continue in more restricted environments, such as college campuses. HEADING TO NY Nasdaq and the American Stock Exchange are negotiating to build a new headquarters and trading floor in the Times Square area in return for about $200 million in city incentives. The two exchanges announced last Monday they would locate their headquarters in the New York area as they formally completed...
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