Security and loyalty were recurring themes last week in the heavy flow of product announcements from Cartes '98, the annual smart card trade show in Paris.

That pretty much conformed to what experts in the industry have been saying about the need for "value added." If money can't be made on plain- vanilla cash replacement services-a lesson repeated in Tuesday's announcement of the Dec. 31 closing of the Mondex-Visa Cash trial in New York City-then there have to be some more compelling propositions.

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