Because of forgetting to bring a wallet, an innovation was born that changed the way the world transacts
Halo Gan & Sist,
If asked who invented the credit card, perhaps many people think the answer is a big bank like Visa or Mastercard.
Turns out it wasn’t.
It is said that it all started in 1949when a businessman named Frank McNamarahaving dinner at a restaurant in New York and then realizing that he forgot to bring my wallet.
This quite embarrassing moment actually gave rise to a simple idea:
“What if there was a card that could be used to pay now, and then the bill would be paid later?”
This idea then developed into Diners Club Cardwhich is known as the forerunner of the modern credit card.
What’s interesting is that in just a few decades, credit cards have gone from being just a means of payment for a few restaurants to becoming a global financial system used by billions of people every day.
On the other hand, credit cards have also given birth to new phenomena: consumer debt, compound interest, credit scores, and even a trillion dollar industry.
So I got curious…
Are credit cards one of the best financial innovations in history?
Or is it actually a tool that makes it easier for people to live with debt?
Because this topic is interesting, I tried to summarize it in the form of a historical documentary to make it easier to understand.
What do you think, bro & sista?
Do you use credit cards, debit cards, QRIS more often, or is it still more convenient to use cash?
Let’s discuss below. It’s interesting if we look at experiences from different points of view.
