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Article: Navy Cash[R] update.
- Article from:
- Navy Supply Corps Newsletter
- Article date:
- May 1, 2008
- Author:
CopyrightCOPYRIGHT 2008 U.S. Department of the Navy, Supply Systems Command. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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We begin this article with a short look back. In April, 2001 NAVSUP partnered with the U.S. Department of the Treasury and the Fleet to prototype the first Navy Cash system on USS Rentz (FFG 46). This prototype marked the beginning of the revolution in how the Navy processes monetary transactions aboard ship. By combining electronic chip and magnetic strip technologies on a debit card, Navy Cash virtually eliminates the need for Service Members to carry cash aboard ship, provides them with 24/7 access to funds, and allows them to use the card at ATM machines and merchants worldwide. Navy Cash is currently installed on 126 ships, and rollout continues on schedule for ...
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