By George Anderson
Target has decided to phase out its Target Visa smart cards because of lack of interest (use) by consumers.
The card, using a computer chip, was intended to allow users to download coupons online or from in-store kiosks for use when shopping at Target. The chain had the card program in place for less than three years.
John Gould, director of consumer lending and bank cards at research firm TowerGroup told Reuters, "Target was on the right track. I don't think they gave it time to mature."
Target will continue to offer its Visa card after the smart cards are phased out.
Moderator's Comment: What are your thoughts on Target's plan to dump its smart card program?
It's hard to criticize the chain after it invested $50 million and over two years on the smart card program. That said, the technology has promise and someday some company is going to figure out how to make it work to the advantage of the consumer and the corporate bottom line. - George Anderson - Moderator