1.   Banks are betting electronic cash cards will catch on much like credit cards and automatic teller machine cards.

2.   One way banks can bet against the peso is to borrow pesos and then use the proceeds to buy dollars.

3.   PNC beat out Mellon Bank Corp. and Banc One Corp. to win the contract, and the bank is betting it will fuel growth in years to come.

4.   Still, many other banks are betting that the Internet will be the main medium for electronic banking in the future.

5.   The U.S. banks are betting that they can use their expertise as world-class underwriters to ride the boom in public borrowing.