Why were smart cashcards first introduced in the third world?
Alan Horowitz
alanh at infi.net
Tue Apr 30 23:38:17 PDT 1996
On Tue, 30 Apr 1996, Michael Froomkin wrote:
> Subject: Re: Smartcards are coming to the US
>
> Lack of entrenched competitors? E.g. credit cards?
Let's talk about the boondocker provinces of the Philippines, with
which I am intimately familiar. Domestic credit cards exist, but only are
accepted at larger establishments. Although some, for example, Philippine
Airlines, will _not_ accept the local cards, but are happy to accept
foreign-issued cards.
There is a major shortage of coins and currency. I am not joking.
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