CNN reports that retailer Target is phasing out 'smart' Visa cards. The cards were introduced in 2001 as a part of a multi-channel loyalty and cobranding approach. While the Visa co-branding worked out fine, the loyalty points in the IC-chip were not used enough to justify the continuation of the programme.
In 4 years time we'll know if this decision was:
1-accurate, given that RFID or mobile phones will take over,
2-wrong, as the programme was introduced too early....
My guess would be that it's a smart move to move away from smart.