Nowadays, when kids are using plastic debit cards, loaded with their weekly allowances by their parents, people are taking credit card processing for granted, yet that wasn’t always the case.
Credit cards were invented less than a hundred years ago, and initially only used by individual firms and their customers. The first ones adopting this technique were the big oil companies. Still, the cards were only accepted by the issuing company and in very limited locations.
The first break through occurred around half a century ago, when the first bank card was issued. This ‘bank card’ could only be used by customers who had an account with the first issuing bank. These fortunate people could purchase goods from merchants maintaining an account with same bank. A very limited and local use, no doubt, yet the first break through enabling one to ’shop around’ using credit card processing.
We’ve gone a long way, and today each and every one of us has opened an account with an issuing bank and got that piece of plastic. All the merchants you can think of, around the world, have signed up for merchant accounts with acquiring banks and know what to do when presented with same cards.
All of us, though most of us tend not to think about it, are connected with binding legal agreements, which enable us to pull out our card, basically everywhere around the globe, in person or on the internet, and purchase any product we can think of, as long as our credit limit enables it… 
When you think about it – credit card processing is magic!
Gidi Argov, Founder and CEO
www.CreditCardProcessing-r-us.com
Tags: Credit Card Processing
Fun stuff!
Nice to see someone who’s looking at credit card processing from a different angle – it’s always fees and discount rates all around.
Would love to read more.
Jamie.
Indeed
Credit Card Processing is all about being percise…!
A lot of missing pieces…
The “first issuing bank” – which bank was it?
“around half a century ago” – when was it?
blah blah blah. credit card processing sucks! If this is the first credit card processing post on this blog, one can only imagine how the rest of the posts would look like… just another credit card processing player!
Oh, do shut up
Nice! The Credit Card Processing Blog was finally launched…
Best of luck and my regards to: Shane, Gidi, Avigail, Dan, Jay and the rest of the gang!
Mark.
Last week I dropped by this site and as usual great content and ideas.
Love the lay out and color scheme. Is it new? Well I really really like it. Please email me the theme.
I love the tips on this site, they are always to the point and just the information I was looking for. Its hard to find good content these days in the world of spam and garbage sites.
Heya i got to your site by mistake when i was searching Bing for something off topic here but i do have say your site is really helpful, like the theme and the content on here…
so thanks for me procrastinating from my previous task – I sure needed a good break!
I’ll be back…
Think about the world as we know it.
Now take credit card processing out.
A true magic indeed…