A Payment History of the United States by Kaz Nejatian
Author:Kaz Nejatian
Language: eng
Format: azw3
Publisher: Magna Carta
Published: 2017-08-10T04:00:00+00:00
Though Diner Club had launched in 1950 (more on this below), it was America Express’s entry into this market in 1957 that spurred the creation of two major products that would go on to become MasterCard and Visa. It was also this American Express team that formed First Data – now the world’s largest payment processor.
Early Retail Cards
It is difficult to place a precise date on the invention of retail credit in the United States. It is possible, however, that retail credit predates the US Civil War for a few reasons.
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