NEW YORK — InteliData Technologies Corp. on Tuesday launched MoneyClip, a small, floppy-disk-like device it says makes it easy for personal computers to read so-called smart cards and allows PC users to effectively turn their computers into automated teller machines.
The Herndon, Va.-based company hopes the product will lead to faster acceptance of smart cards and electronic commerce by consumers, who have lagged their foreign counterparts in adopting the newest banking technologies, InteliData President John Backus told a news conference.
A smart card--a plastic card embedded with a computer chip that stores information--can carry a cash value and have other uses, such as serving as identification.
A smart card can be inserted in MoneyClip, which resembles a standard 3.5-inch floppy disk. The device is then inserted into a PC's disk drive, which reads information on the card.