Visa
Acquired
The Importance of Business Person Focused Charge Card Networks
In 1949, a New York businessman named Frank McNamara had a dinner but forgot his wallet. He called his wife for money and realized there should be a charge card network for business people. This led to the creation of Diners Club, a club where members could pay for meals without cash. The idea was a success and remains a sub-brand of Discover today. The story of Frank McNamara's dinner mishap and the creation of Diners Club is legendary, although fabricated. Nevertheless, it turned out to be a great business idea.
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