Setting the Stage: Money, Credit, and Payments in America

  • David L. StearnsEmail author
Part of the History of Computing book series (HC)


This chapter establishes a context for the history presented throughout the rest of the book. It describes the formation of the Federal Reserve’s check clearing system in the United States; the early charge card programs operated by Western Union, the oil industry, the airlines and the department stores; the various travel and entertainment cards of the 1950s; and the early bank-issued credit cards, especially the BankAmericard from Bank of America. It ends with the creation of the first national interchange networks: the Interbank system; and the BankAmericard licensing system.


Credit Card Payment System Department Store Payment Card Federal Reserve System 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


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Copyright information

© Springer-Verlag London Limited 2011

Authors and Affiliations

  1. 1.Seattle Pacific UniversitySeattleUSA

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