We imagine this as expanding what you do with credit cards. We do not think the electronic purse is appropriate for people buying jewelry or automobiles.
Predictor: Nash, Michael
Prediction, in context:In a 1994 article for Wired magazine on e-cash, Steven Levy quotes Michael Nash of Visa. Levy writes: ”Everybody seems to agree that smart cards holding digital cash should provide an option to punch in a Personal Identification Number before buying something; but there is also a consensus that most people won’t use that option. ‘The consumer won’t bother with that,’ says Visa’s Michael Nash. ‘The key here is that we imagine this as expanding what you do with credit cards. We do not think the electronic purse is appropriate for people buying jewelry or automobiles.’ In many systems – Mondex is a good example – losing your stored-value smart card is like losing a wad of bills. Don’t carry more than you can afford to lose.”
Date of prediction: December 1, 1994
Topic of prediction: Economic structures
Subtopic: E-cash
Name of publication: Wired
Title, headline, chapter name: E-Money (That’s What I Want)
Quote Type: Direct quote
Page number or URL of document at time of study:
http://www.wired.com/wired/archive/2.12/emoney_pr.html
This data was logged into the Elon/Pew Predictions Database by: Anderson, Janna Quitney