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Swiss Watch Transaction

For the very latest in Swiss watches, you might want to wait until you can buy one with a transaction chip in it.

Swatch, of Switzerland, which is the world's biggest watchmaker, joined forces with Schlumberger Smart Cards and Terminals and is inserting transaction chips into watches for them.

The purpose is to eliminate the need of a plastic card. A prototype watch using this science was tested for ski lifts in Austria. After its successful use there, other applications are being evaluated.

Future use of the watches include plans for mass-transit and electronic ticketing. When going through the subway turnstile, or through a bus door, you'd simply wave your watch in the general vicinity of the terminal, which would be triggered by the chip, and enter.

Schlumberger says the same principle could be put to use for airplane travel.

How handy! You can use the watch to make the plane on time, use it to get on, and use it again to see how long you have to sit before you finally take off!

Copyright © 1999 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 9, No. 7, 8/99

First published on 08/01/1999

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