Chase Manhattan Bank has launched Navy Cash, a pre-paid smart card system for US sailors and marines for spending on-board ship and to access bank accounts and hard cash at ATMs around the world.
Introduced by the Naval Supply Systems Command, the Navy Cash card uses a computer chip to store value for purchases at sea (e-purse) and a magnetic strip for debit purchases and ATM account access. It was developed using the WIndows for smart card operating system.
Sailors and marines can use the e-purse feature to buy items at point-of-sale terminals in the on-board store, post office, morale-welfare and recreation wardrooms and other retail locations, including vending and game machines - without the need to carry cash. The debit feature can be used to withdraw cash at more than 529,000 ATMs or to make purchases wherever MasterCard is accepted. Sailors and marines can also transfer funds to and from their Navy Cash accounts, e-purse and personal bank accounts as needed and can have pay deposited directly into these accounts.
The Navy Cash system is currently being piloted with 170 crewmembers of the USS RENTZ (FFG-46).