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Navy Cash represents an evolution of the Automated Teller Machines (ATMs)-at-Sea program (ATMS), which began installing ATMs on board ships in 1988. The Navy Cash card combines chip technology and a magnetic strip to virtually eliminate the need for Sailors and Marines to carry cash. The chip-based electronic purse provides for a cashless environment within the lifelines of the ship. The magnetic strip on the back of the card provides for pre-paid debit access to the funds in Navy Cash accounts at 32 million locations globally and over 900,000 ATMs in over 120 countries worldwide. To support these transactions, Navy Cash also provides for electronic access to checking and savings accounts ashore.