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Cashless Payments Eroding Cash’s Dominance

PYMNTS

A movement by countries around the globe to embrace a cashless future is resulting in plastic payments (think credit and debit cards) to erode cash’s market share. The firm found that 471 billion cashless payments were made around the world in 2015, up 52 percent since 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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