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The origin of the credit card story ... and the emergence of the first card in the world

The origin of the credit card story ... and the emergence of the first card in the world

A piece of plastic bearing some letters and numbers and the name of the issuing bank was able to make a great change in the world of finance and make transactions between individuals and each other or between individuals and institutions much easier, and this piece is the "credit card" that appeared long ago and began to develop until it reached its current form We know.

The origin of the credit card story ... and the emergence of the first card in the world


The credit card has reached all these advantages that it provides to its holder, the most important of which is that the one who carries it does not need to carry money with the ease of conducting all his financial transactions, and thus the credit card guaranteed to protect his money from theft and loss.


The appearance of the credit card was the result of some of the ideas that led to it, and "Echo of the Country" offers you some of those ideas.


In one of the chapters in writing "Al Mabsoot," Shams Al-Imams Sarkhasi mentioned the basic idea of ​​the credit card, and that was one of the attempts.


Frank X McNamara, president of Hamilton Credit Corporatio, thought about a way to make people give up carrying money with them everywhere, after he was exposed to an embarrassing situation when he went out to dinner in a restaurant and discovered that his wallet was not in his possession and that in 1950, and in the same year he established Diners Club Company; to be the first company to issue the first credit card in the world, and in the following year, "McNamara" went to the same restaurant and paid for dinner using a credit card made of cardboard with his signature, and this event was known as "The First Dinner".


At the end of 1950, the number of the company's customers reached about 20 thousand customers, and Diners Club issued the first plastic credit card in 1961, and in the mid-sixties the number of cardholders of this company reached about 1.3 million customers.


Some American companies also issued these cards to facilitate the payment process in 1920, until it developed into its current form.

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