Back when Janet S. Crane was chief executive officer of Mondex U.S.A., she did a lot of cheerleading for the smart card industry and for Mondex’s stored value technology.

But lately, she has been sounding pretty dubious about smart cards. Ms. Crane, who is now CEO of the online payments firm Billpoint Inc., told the Smart Card Forum in September that she thought smart cards were “way too far behind.” Last week, at a Cardtech/Securtech conference in Washington, she sounded positively dismissive.

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