View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
October 8, 1998

VISA & MASTERCARD ACCUSED OF STALLING SMARTCARD UPTAKE

By CBR Staff Writer

Visa International Inc, Visa USA Inc and MasterCard International Inc have stalled the smart card market by around 10 years, if the US Justice department is to be believed. The department has filed an anti-trust suit accusing the two credit card networks – which between them have sewn up 75% of the US credit card market and both represent many of the same banks – of holding up the development of new technologies, including smart cards on the basis of resistance from member banks. Smart cards … have been delayed for about a decade, said Janet Reno, the US attorney general, in a statement. One smart card company that has been burnt in the US market is France’s Bull SA, which a few years pulled the plug on its smart card unit when demand did not take off as the company expected.

Websites in our network
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
I consent to New Statesman Media Group collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU