Universal credit card (Diners Club, BankAmericard)
Tarjeta de crédito universal (Diners Club, BankAmericard)
- Date
- 1950 · confidence high
- Place
- Diners Club, New York, United States; BankAmericard in Fresno, California (1958)
- Credited to
- Frank McNamara and Ralph Schneider (Diners Club); Bank of America (BankAmericard, later Visa)
- People
- 👤 Frank McNamara1894–1961
- Field
- Communication
What it is
A card accepted at multiple establishments that defers payment through an intermediary. It created mass consumer credit and global payment networks.
What it led to
- The credit-based consumer society and household debt
- The Visa and Mastercard networks and e-commerce
- The traceability of every purchase and credit scoring
Built on
- store and petrol-station credit cards
- cheque