On this day in 1958 the credit card industry was born – and who better than Dave Birch to help us celebrate!

In an article published today by Forbes Dave writes:

Today is a very important day for us payments nerds. It is the anniversary of the “Fresno Drop”, the birth of the modern credit card industry, a day that should be celebrated throughout the financial services sector (and every other sector as well, particularly management consultancy). On 18th September 1958, Bank of America officially launched its first 60,000 credit cards in Fresno, California.

Dave Birch

Celebrate 50 years of the Credit Card by reading: Dave Birch’s article published by Forbes today: Happy Birthday Credit Cards!

Ever wondered what happens when you use a credit or debit card?

Source: Payment Systems Regulator

The PSR have just published an infographic with a simplified picture of what happens during a consumer debit or credit card transaction (except for American Express cards) where a transaction is authorised.
Payment Systems Regulator infographic: What happens when you use a credit or debit card?

Read, subscribe and share

This blog is from the latest edition of my newsletter “Payments, Payments, Payments”, read, subscribe and share at: