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Gold/Mining/Energy : CDN. MOMO PUPPIES
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To: KodiakBear who wrote (17617)12/28/1999 11:39:00 PM
From: Lola  Read Replies (2) of 36688
 
People are always hesitant to try something new Snoog but there is a real need for smart cards especially when it comes to electronic commerce.

There are going to be alot of benefits for using smart cards versus using debit cards and credit cards.

1) You will be able to shop online with a smart card ... you can't do that with most debit cards.

2) You can pay for small purchases with your smart card without paying any kind of transaction fees like you might with a debit card or credit card.

3) When you lose your smart card you only lose the actual amount that is on your card at the time whereas with a credit card or debit card your losses are not limited. Most people would normally only carry less than $50 on their smart cards ... it's supposed to be a replacement for purchases you still make using cash ... i.e. buying milk at the variety store. Carrying loonies and toonies around is a real pain.

4) The world's consumers still do most of their transactions using cash and not credit cards (I think about 80% of the world's transactions are still cash). The smart card is a replacement for cash.

It will work because it is to the benefit of the people in power i.e. the banks, VISA and Mastercard.

It will also be a big boost to merchants involved in electronic commerce.

Lola:)

EDIT: One more thing the cash card will soon eliminate the need to go to the bank machine to get cash since you will be able to reload your card with cash via your telephone or other smart card enabled device.
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