While Visa International and Bank of America recently demonstrated smart card payments over the Internet, the technology is so new, many question the time frame for consumer adoption. "We think Internet shopping has promise."

A portable smart card that can be used in many ways, including with computers, could help create growth in Internet commerce," says Susan Bauman, vp of smart cards at BofA's interactive banking division. "Consumers need to get comfortable with shopping on-line. When they have the payment vehicle and when the prices are right, then growth will follow," she says.

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