Challenging Conceptual Barriers: EFT and the Debit Card

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


This chapter chronicles the history of Visa’s signature debit card, placing it in the context of the discussion surrounding electronic funds transfer (EFT) in the 1970s. Visa’s first debit card was introduced in 1975, yet the member banks did not widely issue it until the 1990s. I argue that this had more to do with a technological and cooperative mismatch between Visa’s debit card and the various EFT plans being formulated by the member banks than it did with protecting lucrative credit card profits.


Credit Card Federal Reserve Consumer Credit Debit Card Payment Instrument 
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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