High Quality Content by WIKIPEDIA articles! EagleCash and EZpay are cash management applications that use stored-value card technology to process financial transactions in "closed-loop" operating environments. The programs are sponsored by the US Department of the Treasury for the US Military. The programs are administered for the Treasury by the Federal Reserve Bank of Boston, and are in use at approved CONUS and OCONUS US military facilities. The systems utilize a plastic payment card, similar to a credit or debit card, which has an embedded microchip which keeps track of the amount of money stored on the card and interfaces with encrypted card acceptance devices. This allows soldiers with the card to purchase goods and services at US military posts and canteens, without carrying cash, or manage their personal bank accounts while on deployment or in training. The program reduces the amount of US currency required overseas, reduces theft, saves thousands of man-hours in labor, helps...

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