As 12 European nations prepared for the introduction of a single-currency (euro) system by mid-2002, many payment professionals in the United States reportedly felt Europe's smart cards continued to be a solution in search of a problem and that plastic cards embedded with computer chips were, for the most part, an expensive gimmick.
Pepsi-Cola North America introduced a wireless technology system in vending machines that allowed customers to pay for sodas with credit cards. The new vending machines used U.S. Wireless Data Inc.'s Synapse card-payment and telemetric system. Synapse also collected machine inventory information and transmitted it to the local Pepsi distributor.
WebsiteBilling.com, an online credit card processor, sued Visa U.S.A. (now merged into Visa Inc.) over the card brand's chargeback policies. The Hollywood, Fla., processor stated Visa did not refund penalties for chargebacks that were reversed, and many WebsiteBilling.com merchants were terminated because Visa alleged they had excessive chargebacks.
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