First USA, the largest Visa card issuer in the US, has launched its first smart card product for consumer spending over the Internet.
The First USA smart Visa card enables cardholders to store their Internet usernames and passwords, favorite Web sites, personal profile information and credit card information on the chip for quick and easy access. Data stored on the chip is encrypted and password protected.
The bank is offering cardholders free access to its Connection online shopping service and five percent cash back offers when purchasing online from participating merchants. Consumers who switch to the card will also be offered free software and a personal smart card reader for PC access.
First USA is using a 32K Open Platform chip that will allow downloading of new applications over the Internet after a card is issued.
The bank says it will market the product in a national TV advertising campaign slated for November.