Visa International publicly demonstrated Copac, the  Chip Off-line Pre-Authorized Card, which it plans to introduce in Russia by   yearend.   
Designed for emerging markets that are modernizing payment systems but  lack cheap and extensive telecommunications, Copac involves building high   levels of security into the chip and transmitting details of transactions   to the bank periodically from merchant terminals.     
  
The Visa Roskart will be issued by Moscow-based Inkombank. The initial  rollout will be in St. Petersburg; Visa expects Copac to be available   worldwide in 1998.   
Anne L. Cobb, president of Visa's Central Europe, Middle East, and  Africa region, said the card offers security against overspending and fraud   and will appeal to populations with little banking history or experience in   payment cards.     
  
"We have identified more than 50 countries where it will be  appropriate," said Ms. Cobb, who demonstrated the card by using it to buy a   T-shirt during a Sept. 11 press conference in New York.