Banks envision a world where e-cash is king

Imagine a world where cash is obsolete. You can carry your life's savings on a microchip in your pocket. On payday, your company merely adds to that chip. You use it to pay bills, make purchases and even send a CARE package to your nephew at college. To verify your identity, the chip simply rea...

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Bibliographic Details
Published in:Crain's Cleveland business 1995-09, Vol.16 (39), p.24
Main Author: King, Michael L
Format: Article
Language:English
Subjects:
ATM
Automated teller machines
Banking industry
Banks
Chat rooms
Computers
Cost control
Customer services
Electronic banking
Personal computers
Semiconductors
Service introduction
Small business
Technology
Trends
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Summary:Imagine a world where cash is obsolete. You can carry your life's savings on a microchip in your pocket. On payday, your company merely adds to that chip. You use it to pay bills, make purchases and even send a CARE package to your nephew at college. To verify your identity, the chip simply reads a copy of your thumb print or a retina scan. Although this 21st-century technology already exists, it probably won't be used routinely for at least another 10 years, said Anthony McEwen, a senior vice president at National City Corp. (excerpt)
ISSN:0197-2375
1931-3993