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Cashless Payments Eroding Cash’s Dominance

PYMNTS

Retail Banking Research said consumers are moving away from carrying cash and taking more advantage of alternative payment methods. According to Retail Banking Research, payment cards accounted for 55 percent of cashless payments in 2015, up 50 percent from 2011.

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How Visa and MasterCard Shape the Payments Industry

Clearly Payments

Bank of America launched the BankAmericard in 1958, widely considered the first credit card available to consumers, which eventually evolved into Visa. In 1966, a group of California banks formed the Interbank Card Association (ICA), later known as Master Charge and then Mastercard.

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