From: hallam@Etna.ai.mit.edu
Date: Sat, 3 Aug 1996 13:20:01 +0800
To: Sandy Sandfort <sandfort@crl.com>
Subject: Re: VISA Travel Money
In-Reply-To: <Pine.SUN.3.91.960802191032.26652B-100000@crl5.crl.com>
Message-ID: <9608030331.AA07184@Etna.ai.mit.edu>
MIME-Version: 1.0
Content-Type: text/plain



I don't think that VISA travel money will be a major product
for VISA. When I spoke with Azbo about it it was not a 
major strategic direction for them.  He described its use by 
First Bank of Internet (later first Branch of Internet).  I think that
VISA would LIKE to provide the Ability for travel money, to function 
as a debit card, but it would then be very close to their existing 
product of secured payment cards.There are good reasons why aproduct 
that allows you to draw a specific amount of cash out of ATM's is a good 
idea for VISA and useful for a small number of customers, but I think 
you're reading way to much into this.  Much more interesting are proposals
by the Federal reserve Board, to exempt from regulation E certain types of 
stored value card provided they store no more than $100.  While $500 would
seem to me to be a more serious and sensible level while still not having
particular money laundering advantage (5 $100 bills is smaller than 
one smart card) it is at least a start.

Phill

PS Be willing to bet donuts provided he can suggest a way of delivering them 
via internet.