Visa Cash
From Wikipedia, the free encyclopedia
Visa Cash is a smart card electronic cash system owned by VISA.
Go to http://www.visacash.org a website dedicated to saving the history of the Visa Cash program.
Trialled in various locations Worldwide (including Leeds, UK in 1997), the system works via a 'chip' embedded in a bank card, and looks similar to the so-called 'Chip and PIN' cards issued in inter alia France and the UK.
The card is 'loaded' with cash via specialised ATMs, and the cash can later be 'spent' by inserting the card into the retailer's card-reader and pressing a button to confirm the amount. Neither PIN entry nor a signature is required, which makes for a speedy transaction for the card's owner.
Other competing cashless payment systems for micro-payments (small amounts) include Mondex.
A more successful smart card electronic cash system is the Octopus card system in Hong Kong.
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