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Nowadays, businesses all over the world have started to accept credit card payments, installing card processing machines and thus facilitating their clients banking experience. Customers enjoy the convenience of this modern method, because it is not only extremely efficient but also very safe. This is due to the fact that they are using encrypted systems which are aimed to ensure users security, protecting them from data breach and banking frauds. The performance of a credit card processing terminal has evolved in time with the development of technology, until the point where you can transfer money from your account using your mobile phone. However, even if nowadays there is a lot of innovation in terms of credit card processing, things have not always been like this and decades ago, everything was much more rudimentary.

The beginning of credit card payment

Everything began in the United States, in the early 1990s, where plastic cards appeared as an alternative for those who used to buy from oil companies. The cards were issues as a proof of consideration and loyalty, serving as a tool used to engage and also reward constant customers. The objects could be used only for the business that issued them, not for any oil provider, and only in the headquarters from certain locations. In spite of the limited flexibility, these were considered a huge innovation at the time, managing to become the ideal customer service tool. Oil companies did not offer the card to all their clients, which placed those who owned them into an exclusivist category.

 

The next development stage

Later on, credit card processing involved mechanical machines using a carbon forms supply. These were not actually automated, because they involved the manual operation of a specialist, the acceptance from the credit card company and so on. Fortunately, this unsafe, slow and troublesome process has been replaced in the following years by an automated and encrypted system, more flexible and secure for its users.

 

Credit cards nowadays

Even if since the adoption of the universal card, in 1970, and the appearance of the smart cards in 1980, there has not been any major change, recently experts have started to launch some innovative ideas. It seems that we are about to witness the next stage of card evolution, because specialists are planning to introduce a series of new features aiming to offer more control for clients, and also a higher degree of protection against banking frauds. Some of the most relevant would be: unique codes formed of 12 digits, buttons allowing users to choose between cash and reward points and constant access to the account balance.

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