ATLANTA -- The first wave of smart card terminals will be installed here this week, signaling the launch of a stored value test that eventually will involve more than 5,000 retailers.
Supermarket stores here are among a diverse group of merchants that will begin accepting smart cards, embedded with computer chips, as payment for products and services during the 1996 Summer Olympics.
Under the program, visitors to the Olympic Village can purchase the cards, containing "stored value" in denominations of $25, $50 and $100.
When the cards are presented for payment in supermarkets, for example, point-of-sale terminals will deduct the amount spent from the card's microprocessor and the retailer will be credited accordingly.
The test is spearheaded by Visa International, San Mateo, Calif., which projects 1 million cards will be issued by the participating banks once the Games get under way.
POS terminals that accept smart cards will be installed in stores by Diebold here which also will upgrade automated teller machines to accept the cards. Schlumberger Technologies, Chesapeake, Va., will manufacture the smart cards in both disposable and rechargeable form.
The Summer Olympics stored value program is characterized by industry observers as the first test of smart card technology in an open environment involving a wide variety of merchants. In addition to grocery stores, the cards can be used in restaurants, pay phones, taxis and public transportation.
