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Is it time to say goodbye to credit cards?

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This story appears in the August 1998 issue of Entrepreneur. Subscribe »

In the next decade, "smart" cards equipped with microprocessor chips will likely replace the magnetic-strip cards currently used as debit, credit and ID cards.

Smart cards have been available in Europe since the early 1980s; the cards' versatility and resistance to illegal use have finally caught the eye of U.S. credit card companies.

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