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Bankcard was a shared brand credit card issued by financial institutions in Australia and New Zealand between 1974 and 2006. It was managed by the Bankcard Association of Australia, a joint venture of Australia's largest banks, and was the nation's first mass market credit card.
The bank created the first credit card in Australia in 1974 when it established Bankcard. In later years the bank began offering MasterCard (1984) and Visa (1993) cards as well. In 1974, as Papua New Guinea approached independence, the bank formally handed over its PNG operations to the newly created and government-owned Papua New Guinea ...
Formed in 1950 by Frank X. McNamara, Ralph Schneider (1909–1964), Matty Simmons, and Alfred S. Bloomingdale, it was the first independent payment card company in the world, successfully establishing the financial card service of issuing travel and entertainment (T&E) credit cards as a viable business.
Commons. Portal. v. t. e. A credit card is a payment card, usually issued by a bank, allowing its users to purchase goods or services or withdraw cash on credit. Using the card thus accrues debt that has to be repaid later. [1] Credit cards are one of the most widely used forms of payment across the world.
An issue for many Australian organisations is the capture of credit card primary account numbers (PANs), referred to below under the 25 points section as credit cards or EFTPOS cards. This practice is not compliant with the Payment Card Industry Data Security Standard and must be removed from all 100 point check forms.
First products. It added superannuation (2005) and home loans (2008) to their product suite. The card was Australia's first no annual fee credit card. The card was marketed as a cheaper option to most other credit cards with up to 55 interest-free days and an interest rate of 12.99% (April 2007).