There is a radio commentator who is famous for telling "the rest of the story" - which often turns out to be more important and interesting than the original report.

That is what comes to mind now that the chief executive officer of Visa International is telling the banking world that multiple-function smart cards can be economical-only 1.3% more than the cost of current card programs. (See commentary by Malcolm Williamson, May 26, page 12.)

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