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To: Jerome Wittamer who wrote (193)	2/25/1998 12:19:00 PM
From: yosi s	Respond to of 351

Also in NY NY where citibank among others is testing the smart card they are in conjunction with visa. there are some merchants accepting it. I can find out from my citibank rep.

To: Jerome Wittamer who wrote (193)	2/25/1998 4:24:00 PM
From: Gerald Walls	Read Replies (2) \| Respond to of 351

I don't see an advantage of a smart card over a credit card unless the transactions are anonymous and then there are privacy advantages. Functioning: go with the smart card (which can be the same as your debit card so you save place in your wallet) to the ATM, put your card into the reader and load it with e-cash. The money is immediately withdrawn from your current a/c. That's as easy as taking real cash. And you can run out just like with real cash, even though you have tons left in the bank. What are you out if you lose a smart card with $500 on it? $500? What are you out if you lose a credit card with a $5,000 max? $50 max if you report it promptly, $0 max if you report it before the first illegal use. And as long as you have credit left you don't need to go to the ATM to refresh it. When at a store you insert the card into a small reader, the cashier types the amount and you just push OK, it really takes no more than 4 seconds ! With a credit card it takes about 10 to 15 seconds plus a signature. At the gas station I insert the card into a reader in the pump, pump my gas, and pocket the receipt. I just don't see the allure of smart cards.

To: Jerome Wittamer who wrote (193)	2/26/1998 5:58:00 PM
From: Nitesh P. Patel	Read Replies (2) \| Respond to of 351

Now you see, that's where the difference is....do you have a company credit card? Most of the big companies have credit cards that employees carry and charge everything on it. I have my on cards to where I charge everything. That way I have a receipt for every thing in form of a monthly bill. So I don't have to keep track of where my money is going by saving the receipts from waffle and donuts. Plus, no one still can argue the point I made. The CC companies would start losing money because FINANCE CHARGE and LATE FEES would reduce. That's the FREE money that they get and hefty one too. Nitesh