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Stored-value Cards Join The Army
11,000 Army recruits in basic training at Fort Knox, Kentucky will receive advance payments before their direct deposit accounts are established in the form of stored-value cards. The stored-value cards will hold $200 and can be used to buy goods and services on the base.
This type of payment solves a problem for the Army of how to fulfill the mandate to deliver all payments electronically by 1999. The initial payment to the soldiers can be accomplished easily with stored-value cards, eliminating the need to deliver cash.
Copyright © 1997 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 7, No. 7, 6/97
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