Quote:
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Originally Posted by Deraj
Nobody took credit cards 25 years ago   |
not true..
In 1950, Diners Club and American Express launched their charge cards in the USA, the first "plastic money". In 1951, Diners Club issued the first credit card to 200 customers who could use it at 27 restaurants in New York. But it was only until the establishment of standards for the magnetic strip in 1970 that the credit card became part of the information age.
The first use of magnetic stripes on cards was in the early 1960?s, when the London Transit Authority installed a magnetic stripe system.
http://www.didyouknow.cd/creditcards.htm
1966
Bank of America expands its bankcard program by forming the BankAmericard Service Corporation, licensing banks outside of California to issue cards to their customers. Because the cost of bankcard programs is shared among its member financial institutions, even small banks across the country are able to join. The Interbank Card Association, which later becomes Master Charge, is formed.
http://usa.visa.com/about_visa/about...a/history.html