CMSPI STATE OF THE INDUSTRY REPORT
Case Studies Belgium (p. 86), France (p. 87), and the United States (p. 88)
2.2 CARD
Timeline
1946
First charge card in NY with select retailers
1950
Diners Club Card invented
American Express launches card, merchants and cardholders charged a fee
1958
• BankAmericard Credit launches, first debit card launches with Bank of Delaware • Interbank Card Association (ICA) is formed, the umbrella organization to Mastercharge
1966
Truth in Lending Act passed, the first regulation for credit lenders in the United States
1968
BankAmericard goes national, named National BankAmericard Inc. (NBI), and first ATM launches for credit card use Interchange introduced at 1.95% to balance incentives on the issuing and acquiring sides of the card market 126 Equal Credit Opportunity Act passes, making it unlawful for creditors to discriminate based on race, gender, age, national origin, or marital status.
1969
1971
1974
Interbank Card Association launches Mastercharge, BankAmericard introduces debit product
1975
First online shared networks with Jeanie and first PoS systems
1976
NBI renames to Visa and exclusive rights to BankAmericard are reverted to Bank of America
1977
1979
Mastercharge changes its name to Mastercard
• National Bank Corp (NaBanco), a bank providing authorization and processing services for merchants, sues Visa over price setting Interchange, claiming price fixing • Visa begins to build national EFT networks, purchasing PLUS network
1982
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