Target is First U.S. Retailer to Offer Smart Visa Card

Posted on by Chief Marketer Staff

Target Corp. a general merchandise retailer and direct marketer, will work with Visa USA to introduce its smart Visa cards to Target customers. Smart cards contain embedded computer chips that allow data to be written to and taken from them, including purchase behavior and stored value.

Target will issue the smart cards through its Retailers National Bank affiliate later this year, and will install point of sale chip readers, which can accept payment from the stored value cards, throughout its retail network in 2002.

“This revolutionary new card offers our guests a credit vehicle with greater convenience, broader utility, increased value and expanded rewards programs,” said Jerry Storch, vice chairman of Target, in a statement.

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