Why were smart cashcards first introduced in the third world?

[Alan Horowitz <alanh@infi.net>]

On Tue, 30 Apr 1996, Michael Froomkin wrote:
> Subject: Re: Smartcards are coming to the US
> 
> Lack of entrenched competitors? E.g. credit cards?


   Let's talk about the boondocker provinces of the Philippines, with
which I am intimately familiar. Domestic credit cards exist, but only are
accepted at larger establishments. Although some, for example, Philippine
Airlines, will _not_ accept the local cards, but are happy to accept
foreign-issued cards. 

There is a major shortage of coins and currency. I am not joking.