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| Subject: Target Must Hit The Bullseye For U.S. Smart Cards To Take Off | |
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Author: Here is some non delusional info Michael( 2003-01-10 )CAT |
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Date Posted: 10:35:38 01/11/03 Sat Target Must Hit The Bullseye For U.S. Smart Cards To Take Off Target Corp. will have to show its smart cards make customers more loyal or other U.S. payment card issuers will put off introducing chip card, says analyst Aaron McPherson of U.S.-based research firm IDC/Meridien Research. "If they are successful, we can expect other major chains to follow suit," says McPherson. "But if they’re not successful, people will say, ‘If Target couldn’t make it work, how can we make it work?’" In a recent report, McPherson projected that the number of payment-oriented smart cards, or similar chip-based keyfob devices like the Exxon Mobil Speedpass, would grow from 35 million this year to 69.5 million in the United States, but only if smart card-based loyalty programs like Target’s make a splash. If those programs are not successful, he projects chip-based cards and tokens will only total 35.6 million units in 2007. Regardless of the success of chip-based credit cards like Target’s Visa card, McPherson predicts substantial growth for cards and tokens consumers wave by readers to make payments, including devices like the Speedpass and contactless smart cards for paying bus and subway fares. These devices, which operate via radio frequency, will grow from 5.4 million units this year to 20.4 million units in 2007, McPherson predicts. Target has issued more than 7 million smart cards, and promises customers will soon be able to download coupons onto their chip cards from the Internet and in-store kiosks. ( 2003-01-10 ) [ Next Thread | Previous Thread | Next Message | Previous Message ] |