It was announced today - "the electronic cash" of the future. Citibank, Chase Manhattan, Mastercard and Visa announced a joint project...The idea being-- a consumer loads the amount money onto a plastic card... much like a Metro or phone card or debit card.. let's say $100. This card would be accepted in lieu of cash at places like the dry cleaners or in a taxicab. The difference between this and a debit card? It's quicker to process. There will be a test run by year's end in New York, city. Robert Siegel talks with Henry Lichstein (Lick-stine), the vice-president for advanced technology at Citibank, about this "cash of the future."
Copyright 1996 NPR
