Glitches trip up real-life test of plastic cash

Article Abstract:

Smart cards were tested in Manhattan's Upper West side to see how willing people were to use the cards instead of cash. The support network of hardware had technical and logistical problems, so it made using smart cards a hassle. Sponsors signed up 600 merchants for the pilot, and more than a third have quit or were eliminated from the test by the sponsors. "If they could improve the system, I think plenty of customers would use it. But in a city like New York, where it's hustle and bustle, everybody wants to be treated one-two-three, and if you can't accommodate your customers, they're just going to forget about it. It turns you off," said Sammy Austin, store manager at Duane Reade drugstore on Amsterdam Avenue.

Commercial Banks, Commercial Banking, Product information, Company Planning/Goals

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Citigroup picks mainly Travelers' aides for top posts at U.S. consumer units

Article Abstract:

Citigroup Inc.'s US consumer businesses are dominated by executives from Travelers Group. Financial services company, Travelers Group recently merged with banking giant Citicorp. Travelers executives were mamed to head the four main US consumer groups, even though the former Citicorp had a strong US consumer franchise through its retail-bank network. Citigroup's consumer businesses are expected to assume a major role in the merged company's profitability.

Acquisitions & mergers, Insurance, Insurance Carriers and Related Activities, Financial Services, Finance and Insurance, Executive changes & profiles, Company Personnel, Citigroup Inc., Travelers Inc.

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