Mak­ing change

Business Traveler (USA) - - SPECIAL REPORT -

In the 1800s“credit to­kens”cre­ated from fiber, pa­per, metal or coins are on record as the ear­li­est forms of charge cards. The his­tory of credit cards ver­sus charge cards later took a mo­men­tous turn dur­ing a din­ner con­ver­sa­tion be­tween an ex­ec­u­tive busi­ness types and lo­ca­tions. Din­ers Club, as it would be­come known, re­placed the nu­mer­ous loy­alty and charge cards typ­i­cally found in the late 1940s. At the same time, travel for both busi­ness and leisure took off, lead­ing to a boom in travel re­lated pur­chases, fur­ther fu­el­ing the credit card ex­pan­sion.

Now, the lat­est evo­lu­tion in the card in­dus­try may soon in­volve the elim­i­na­tion of the phys­i­cal card, in much the same way its credit to­ken fore­bears dis­ap­peared.

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