VISA TO UNVEIL RELOADABLE CASH CARDS
By Adnews Staff
Barrie, Ont. is set to become the third Ontario city to test market a reloadable cash card. Visa Canada, Scotiabank and the TD Bank will begin a one year trial in the city this fall involving over 10,000 consumers and 300 merchants. Shoppers will use the Visa cash cards by loading them with cash at special devices located beside Scotiabank and TD automatic tellers and at other locations throughout Barrie. With a charged-up card, consumers will then be able to purchase goods and services at businesses equipped with machines that read the card and subtract the total cost of goods purchased from the card's cash balance. Derek Fry, Visa Canada president, said in a release that surveys showed eight out of 10 shoppers would choose a reloadable Visa cash card over actual cash. A heavy advertising campaign created by Leo Burnett Co. Ltd. of Toronto will support the card's launch in Barrie, Garry Morehouse, Visa Canada's chip initiatives director, told Adnews. He declined to give any further details about the campaign. Over the last 18 months, Visa Canada has tested non-reloadable cash cards in Montreal, Toronto and Vancouver. Other cashless cards being tested in Ontario include the Mondex card in Guelph and the Exact card in Kingston.