Chase, Citicorp, MasterCard, and Visa debut smart cards in the Big Apple to mixed reviews.
Chances are, the answer is never.
Whether or not you have a cash or coin overflow crisis, Chase Manhattan Bank, Citicorp, MasterCard International, and Visa U.S.A. are out to make paper money and coins relics of the past. The 36-block neighborhood west of Central Park is known for its concentration of bagel bakeries, bookstores, cafes, corner drug stores, delis, diners, dry cleaners, news stands, nail salons, dive bars, and juice bars, as well as for its desirable demographics. The Visa and Chase smart cards could be the start of a cashless revolution, or a neat solution that's looking for a problem. After all, cash works. Smart cards are already in use in Europe and Asia, but the U.S. trails in adopting the technology, perhaps because consumers already have so many choices in credit cards, debit cards, and ATM cards.