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Date: Wed, 11 Jun 1997 06:23:08 -0700
To: snetnews@world.std.com
From: Paul Andrew Mitchell [address in tool bar]
Subject: SNET: U.S. Department Of Treasury and First Union Corp.
-> SearchNet's SNETNEWS Mailing List
We need to forward this to author Terry Cook
in Incline Village, Nevada state:
Terry L. Cook
Christian Author & Lecturer
c/o 774 Mays Boulevard, Suite 10
Incline Village 89451/tdc
NEVADA STATE
tel/fax: (702) 833-1808
I am just too busy right now.
/s/ Paul Mitchell
http://www.supremelaw.com
At 08:34 AM 6/11/97 -0000, you wrote:
>
>-> SearchNet's SNETNEWS Mailing List
>
>
>Check this out everyone!!!!!!!!!!!!!!!!!!!
>> >>
>> >>Check this out!
>> >>---------------------
>> >>Forwarded message:
>> >>Subj: U.S. Department Of Treasury And First Union Corp. Announce The
>First
>> >>Visa Cash P
>> >>Date: 97-05-15 22:41:22 EDT
>> >>From: AOL News
>> >>
>> >> FT. LEONARD WOOD, Mo., May 15 /PRNewswire/ -- Over 28,000 new
>recruits
>> >>will be issued more than a uniform as they begin their army training at
>Ft.
>> >>Leonard Wood - they will also be issued a First Union smart card.
>Starting
>> >>today, recruits will use the funds on these smart cards to pay for
>their
>> >>personal items such as toiletries and haircuts during their eight weeks
>of
>> >>basic training on the post.
>> >> As the first Visa Cash pilot in the government's history, the
>> >>Department
>> >>of Treasury funded program will examine the use of stored value as a
>> >>prototype
>> >>for future military operations and for the possibility for eliminating
>cash
>> >>in
>> >>military facilities. By eliminating hard currency, the Department of
>Defense
>> >>will reduce their cash handling operating costs by automating services.
>> >> Featuring an embedded microchip, the Schlumberger
>manufactured Visa
>> >>Cash
>> >>smart cards store money as electronic cash. Verifone Omni 395
>card-accepting
>> >>terminals will be stationed at designated locations and will
>automatically
>> >>deduct the cost of the recruit's purchase from the chip balance.
>> >> The Army Air Force Exchange Service will support all merchant
>> >>terminals on
>> >>the post and ensure daily settlement of the smart card machines.
>> >> "We studied the Visa Cash pilot in the open market during the
>> >>Atlanta
>> >>Olympics and were impressed with the technology and conveniences it
>offered
>> >>consumers," said Gary Grippo, project manager electronic money with the
>U.S.
>> >>Department of Treasury. "We selected First Union as the issuing bank
>for
>> >>this
>> >>project because of their extensive smart card experience and their
>leadership
>> >>position in implementing smart card technology."
>> >> "First Union committed to chip card technology in 1994. We
>have
>> >>worked
>> >>with Visa Cash on several projects, including the Atlanta Olympics and
>> >>believe
>> >>that our vision for the future of smarts cards provided us with this
>> >>opportunity today," said Mike Love, vice president of smart card
>technology
>> >>for First Union's Customer Direct Access Division. "We are honored to
>work
>> >>with these organizations and to develop this innovative prototype
>application
>> >>for the Department of the Army."
>> >> The Defense Finance and Accounting service will prepare and
>> >>distribute
>> >>cards to incoming Ft. Leonard Wood recruits. All smart cards will be
>> >>personalized with the soldiers name and contain a signature panel on
>the back
>> >>for identification purposes. At the end of basic training any unused
>portion
>> >>of the First Union issued smart card will be credited to the soldiers'
>> >>military payroll account.
>> >> "First Union's new chip-card program with the U.S. Department
>of
>> >>Treasury
>> >>and the Department of Defense demonstrates how the Visa Cash
>stored-value
>> >>product can be used to solve commercial issues," said Diana Knox, vice
>> >>president of chip products for Visa U.S.A. "Visa Cash is an open and
>> >>accountable payment product for small-ticket items that, in the future,
>will
>> >>be combined on the chip with credit and debit functionality to give
>consumers
>> >>a full range of payment options."
>> >> Charlotte-based First Union Corp. (NYSE: FTU) provides
>financial
>> >>products
>> >>and services to more than 12 million corporate and retail customers
>> >>nationwide. First Union is the nation's sixth-largest bank holding
>company
>> >>with assets of $137 billion as of March 31, 1997.
>> >> The Financial Management Service, a bureau of the U.S.
>Department
>> >>of the
>> >>Treasury, is the Federal Government's cash manager. The Financial
>Management
>> >>Service issues over 850 million payments on behalf of non-defense
>agencies,
>> >>annually; manages the collection of over $1 trillion in revenues,
>including
>> >>all Federal income taxes each year; administers the
>> >> Government's central accounting and financial record keeping
>duties; and
>> >>manages the collection of the Government's non-tax delinquent debt
>portfolio.
>> >> Visa is the world's largest consumer payment system. It
>plays a
>> >>pivotal
>> >>role in advancing new payment products and technologies to benefit its
>20,700
>> >>member financial institutions, their cardholders and the global
>economy.
>> >>Visa's 561 million cards are accepted at 13 million locations
>worldwide. The
>> >>Visa Global ATM Network consists of more than 342,000 ATMs in 113
>countries.
>> >>For more information on Visa, visit Visa Expo at www.visa.com.
>> >> CO: First Union Corporation; Visa; U.S. Department of the
>Treasury
>> >> ST: North Carolina, Missouri
>> >> IN: FIN
>> >> SU:
>> >>
>> >>To edit your profile, go to keyword NewsProfiles.
>> >>For all of today's news, go to keyword News.
>> >>
>> >>
>> >
>>
>> Stephen & Joni Berkowitz <ferris4@earthlink.net>
>> http://home.earthlink.net/~ferris4/
>> **THE TRUTH IS OUT THERE.**
>>
>>
>>
>>
>> -> Send "subscribe iufo " to majordomo@world.std.com
>> -> Posted by: Stephen & Joni Berkowitz <ferris4@earthlink.net>
>>
>
>-> Send "subscribe snetnews " to majordomo@world.std.com
>-> Posted by: "Terry Rodgers" <blaster@nauticom.net>
>
>
>
========================================================================
Paul Andrew Mitchell : Counselor at Law, federal witness
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