Visa Cash is a

smart card A smart card (SC), chip card, or integrated circuit card (ICC or IC card), is a card used to control access to a resource. It is typically a plastic credit card-sized card with an Embedded system, embedded integrated circuit (IC) chip. Many smart ...

electronic cash Electronic cash was, until 2007, the debit card system of the German Banking Industry Committee, the association that represents the top German financial interest groups. Usually paired with a transaction account or current account, cards with ...

system, implemented as a

stored-value card A stored-value card (SVC) or cash card is a payment card with a monetary value stored on the card itself, not in an external account maintained by a financial institution. This means no network access is required by the payment collection termi ...

owned by Visa. 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, among other countries, in Europe. Another early trial was performed in conjunction with the World Ski Championship in Trondheim, Norway in late February 1997. Several different cards were issued, with loaded face values of 200, 250, 400 and 600 NOK. The cards expired Aug 97. The card is 'loaded' with cash via specialized 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 Mondex was a smart card electronic cash system, implemented as a stored-value card and owned by Mastercard. Pioneered by two bankers from NatWest in 1990, it was spun-off to a separate consortium later on, then sold to Mastercard. Mondex all ...

. A more successful smart card electronic cash system is the

Octopus card The Octopus card ( zh, t=, j=baat3 daat6 tung1, is a reusable Contactless payment, contactless stored value smart card for making Electronic money, electronic payments in online or offline systems in Hong Kong. Launched in September 1997 to ...

system in

Hong Kong Hong Kong)., Legally Hong Kong, China in international treaties and organizations. is a special administrative region of China. With 7.5 million residents in a territory, Hong Kong is the fourth most densely populated region in the wor ...

and in

Singapore Singapore, officially the Republic of Singapore, is an island country and city-state in Southeast Asia. The country's territory comprises one main island, 63 satellite islands and islets, and one outlying islet. It is about one degree ...

, first generation microchip Cashcard by

Network for Electronic Transfers Network for Electronic Transfers, colloquially known as NETS, is a Singaporean electronic payment service provider. Founded in 1986 by a consortium of local banks, it aims to establish the debit network and drive the adoption of electronic pay ...

was introduced powered by Visa Cash when it was launched in 1997, it is currently still being used by motorists to pay their

Electronic Road Pricing The Electronic Road Pricing (ERP) system is an electronic toll collection scheme adopted in Singapore to manage traffic by way of road pricing, and as a usage-based taxation mechanism to complement the purchase-based Certificate of Entitlemen ...

toll and carpark fees via IU reader in the car.

External links

VisaCash.org
a website dedicated to saving the history of the Visa Cash card program. Payment systems Smart cards Visa Inc. Stored-value payment card {{econ-stub

See also

External links