Diners Club International is the story of the embodiment of one idea. Credit Card History Visa Credit Card

Perhaps very few corporations can boast of such a meteoric rise that has befallen Diners Club International. Back in 1950, when DCI began its work by distributing 200 free cardboard payment cards, no one could have imagined that less than half a century later it would receive the status of one of the “75 Greatest Business Solutions.”

The Brilliant Forgetfulness of Frank McNamara

The world's first issuer of payment cards owes its birth to a seemingly trivial story. It all started with the fact that one businessman from New York, the owner of a small credit company Frank McNamara, forgot his wallet at home. And since that day he invited his wife to lunch at a restaurant, she had to pay the bill, and he had to listen to an unpleasant lecture about his absent-mindedness. The resulting charge of emotions was enough for the businessman to wake up the next morning with a ready-made plan for a new payment system, which would allow equally forgetful restaurant visitors to spend more on lunch than in this moment have money in your pocket, and then reimburse these expenses.

By the middle of the 20th century, the stable state of the US economy, which had long since ended the “Great Depression,” and the rapidly growing incomes of the population made it possible for the owners of shops, hotels, gas stations and the same restaurants to sell goods and provide services on credit. But, quite naturally, such benefits extended only to long-standing and well-known clients. The New York financier came up with the idea of ​​​​creating an entire company that would provide loans to any buyers, and at the time of payment for the purchased goods (initially it was only about restaurant visitors). And, as history has shown, he succeeded brilliantly.

Essentially, the whole innovation was to persuade restaurant owners to serve on credit not only their familiar customers, but any of McNamara's customers. In this way, restaurateurs would receive new clients, the company’s clients would receive the opportunity to visit restaurants on credit, and the company itself would receive interest that restaurants would willingly pay for new visitors. And McNamara was going to identify his clients by providing them with cards.

To create a new company, McNamara decided to involve his lawyer Ralph Schneider, as well as his longtime friend Alfred Bloomingdale. The proposal to start a new business was accepted, as they say, “with a bang” - by this time, things were going pretty badly for all three. The previous company created by McNamara and Schneider, Hamilton Credit, was literally on the verge of bankruptcy, making unsuccessful attempts to collect debts from its clients for total amount$35 thousand Things weren't going well for Bloomingdale either: his career as a Hollywood filmmaker was decidedly unsuccessful, and he was out of work, deciding what to do. However, it was he who found $5 thousand in cash to create a new business.

McNamara and Schneider's share of investments was Hamilton Credit, with an office in the Empire State Building and a huge accounts receivable. Thus, at the beginning of 1950, a new company, called “Diners Club” (the name fully reflected the purpose of its creation), was registered and began to exist. From this event, insignificant at first glance, experts count the beginning of the era of the global card business.

Image is a loan guarantee

The first 200 payment cards issued by the company were received by employees of companies whose offices were located nearby, all in the same Empire State Building. The card was issued free of charge, and those who wished to receive it only had to work in the same building and look decent (which indicated their ability to quickly pay off the debt). The world's first payment card was a small cardboard plate with a pressed (embossed) number, which was assigned to each client.

Card holders could get lunch on credit at any of the 14 nearby restaurants (the company's owners entered into corresponding agreements with them). The client presented to the owner restaurant his card and after dinner signed the bill, the Diners Club company paid the bill to the restaurant owner, and some time later the client repaid his debt by paying directly to the company.

The new business lived up to the expectations placed on it and immediately went well. In the first month of operation, the company's turnover amounted to 2 thousand dollars, and the net profit received by businessmen was 140 dollars. But in the next three months, the new enterprise began to develop at a simply gigantic pace.

By the end of the same 1950, 20 thousand people had already become cardholders of the company. The number of personnel growing literally by the day required more and more space. And the company was forced to change three offices one after another. Already at the beginning of the next year, 1951, cardholders had the opportunity to receive credit services not only in restaurants, but also in eight car rental agencies. It is not surprising that in the first three months of 1951 the number of Diners Club clients doubled and was already 40 thousand people.

The first step towards global expansion

It was at this time that Alfred Bloomingdale decided to leave for California and left the business to his partners. In Los Angeles, he is launching a similar project, calling it Dine&Sine. New company also began to develop at a rapid pace - three months of work and agreements with 25 local restaurants were enough for the first competitor of Diners Club to increase turnover to 150 thousand dollars per month. But Dine&Sine was not destined to have a long life.

Just a few months later, Bloomingdale's company faces financial difficulties. The business needs third-party investment, because Bloomingdale and his new partner provide loans to cardholders from their own pockets. And business development is no longer as rapid as before. It was then that Diners Club developed a plan to take over its first competitor.

Businessmen from New York offer Bloomingdale and his new partner to sell Dine&Sine. Upon completion of the transaction, Bloomingdale returns back to Diners Club, and for further development Diners Club receives his share of the sold Dine&Sine - $25 thousand. Together with Bloomingdale's money, the company also acquires something more valuable - clients of Dine&Sine in Los Angeles. Angeles and Boston, and with them the status of a national company.

The year 1951 amazed businessmen with successful results. The number of enterprises accepting cards is already 330, the number of card users is 42 thousand, the company’s turnover has grown to 325 thousand dollars, and net profit to 60 thousand dollars. The company begins to charge money for using the card - first 3 dollars per year, and a little later - 5 dollars annually.

However, next year McNamara makes a decision that is unexpected even for his partners. He goes out of business and sells his stake in the company, which at that time amounted to 70%, to his partners for $200 thousand. And after some 6 years, Frank McNamara passes away.

However, this fact does not negatively affect the company’s activities - what could prevent the only card issuer in the world from further developing? And indeed, the next 10 years became a period of enchanting takeoff for the company.

National DC goes international

Also in 1951, the company opened a branch in the UK, acquiring international status. A little later, franchises opened in Spain, Brazil and Australia. Over the next three years, the card will begin to be accepted by merchants and service providers in Canada, Mexico, Puerto Rico, France, Spain, Finland, Denmark, Belgium, Germany, Holland, Greece, Norway, Syria, Egypt, Iraq and Venezuela.

In 1955, Diners Club shares began to be listed on the American Stock Exchange, and later on the NYSE. This brings the company the investment it needs to lend to cardholders. It also provides financial opportunities to absorb competitors emerging on the market.

So, in 1956, she buys the company Trip-Charge Inc., which is engaged in servicing cards in service centers. The acquisition adds 22 thousand people to Diners Club's customer base. After another 2 years, a controlling stake in the national payment system USA Esquire Club is another 100 thousand cardholders and 6 thousand partners. The next purchase, Sheraton Credit Corporation, adds 800 thousand people to its customer base.

Thus, by the end of the 5th decade of the 20th century, the Diners Club client base around the world exceeded one million people, and the number of points accepting the card for payment amounted to 20 thousand in 76 countries.

From monopoly to competitiveness

1958 marks the end of Diners Club's monopoly on the world market. That year the company issued its first card American Express. And just a year later, this company manages to attract about 475 thousand cardholders - that is, almost as many as Diners Club was able to acquire in almost 7 years. An even stronger blow to the company was dealt by Bank of America, which in the same 1958 issued the first bank card - Bank Americard, the predecessor of the Visa card. Banking product seemed so interesting to the public that after some 3 years Bank of America had 1 million cardholders, 35 thousand trade and service enterprises in the card service network, and the volume of transactions with bank cards amounted to $75 million. 10 years later, in 1968, Bank American Service Corporation would create the world's first banking payment system by selling licenses to issue bank cards other banks, which will later be called Visa International. And almost immediately after it, another payment system will enter the market - Interbank Card Association (in the future - MasterCard Association). With the advent of payment associations, the number of bank cards on the market will increase many times over.

Already at the end of the 50s of the 20th century, with the emergence of the first serious competitors, the management of Diners Club decided to develop some other profitable business in parallel with the card business. Moreover, the need for some changes is simply inevitable, since the company begins to lose profits in its core business. After all, with the advent of competitors, commissions from retail outlets have to be reduced from the initial 7% to 5.5%. The first attempt in this direction - the company intended to master factoring (buying up other people's debts) - turns out to be of little success. However, the next one – introduction into the tourism business – brings considerable success. Also in 1958, Diners Club attracted several US travel agencies to service cards. And after a year, company cardholders get the opportunity to use new service– guaranteed hotel reservations. In 1964, the company became a sponsor of the Transportation and Travel Pavilion at the New York World's Fair. And in 1967, he acquired one of the largest travel companies in the USA - Fugazy Travel - with a turnover of $60 million. By the mid-70s, Diners Club provided travelers with the opportunity to get line of credit 15 thousand dollars and take advantage of a wide insurance program if they purchase a plane or train ticket using its card. Despite the active development additional services, Diners Club is increasingly inferior to competitors in sales volumes.

By the mid-70s, 40 million people had already become Visa card holders, and there were only about 2 million Diners Club holders. And by the end of the 70s, Diners Club was faced with the question of not just staying ahead of competitors, but of survival. There is nothing left to do but sacrifice independence.

“Elite” secret of success

In 1981, the Citicorp financial group gained control of the company. It was during this period that the image of an elite company was created and finally assigned to Diners Club, providing its clients, especially corporate ones, with the most extensive service package. The company's card product is now positioned as accessible to a fairly narrow circle of people who lead a certain lifestyle, earn a lot and spend a lot on vacation, travel and related goods and services.

The new market position allowed the company to acquire numerous employees of well-known global corporations as corporate clients. For example, in 1983, the Diners Club card was chosen as the official payment card for federal employees of the General Service Administration. In 1984, the company's card was awarded the prestigious Freddie Award for the first (but by no means the last) time as the best card for travelers.

It was that year that the company offered its customers the world's first rewards program - Club Rewards. Now cardholders who frequently use airline services can earn miles and use them to purchase airline tickets or upgrade their class. And active customers, depending on the amount spent on the card, collect points and use them to receive various goods.

In 1990, Frank McNamara was named by Life magazine as one of the hundred people who had the most significant influence on the fate of America in the 20th century.

Co-branding: time to shoot doublet

From the very beginning of the 90s, Diners Club began implementing co-branding programs with other companies. Their advantages are obvious - holders of such cards receive, in addition to the extensive Diners Club service program, additional benefits and discounts. In 1991, two joint Diners Club cards were published - with British Airways and Airline Systems. In 1993, the company supplemented its existing Club Rewards loyalty system with the ability to use accumulated points to purchase savings bonds, pay restaurant bills, and purchase goods from catalogs. In 1996, Diners Club opened its website on the Internet.

According to the results of a survey conducted by the International Management Association of the United States in 1998, McNamara’s invention new system calculations receives the status of “one of the 75 greatest business solutions.” In 1999, the company received the Freddie Award for the second time. In the fall of 2000, the structure of Diners Club changed again. The Italian financial holding GTP Holding S.p.A. announced the purchase from its owner, the Citi-group financial group, of the rights to 8 franchises in Western Europe and a number of other franchises operating in 30 African countries. So big deal experts explain the weakening interest of the Citigroup group in Western European markets, which require large financial costs for product promotion. However, the Italian holding's interest in Diners Club International is quite understandable.

Back in 1997, he acquired the rights to the Italian franchise. The new business management team managed to make significant progress on the Italian market in terms of the number of cards, the development of a network of retail outlets, as well as the variety of services provided. Thus, in three years the number of cards in Italy has tripled and amounted to almost 400 thousand. This success convinced GTP management that the business positioning they had chosen for Diners Club was correct. And the franchise branches of Western Europe that have come under his control will also switch to a new business strategy, namely the promotion of a club lifestyle among wealthy segments of society.

In 2000, the company celebrated its golden anniversary - half a century of work in the card market. The results with which DCI arrived at this milestone eloquently indicate that the legendary forgetfulness of its first ideologist, Frank McNamara, was fully justified. As of the end of 2001, the Diners Club International club system included 143 franchises, more than 8.2 million cards in circulation, more than 35.8 thousand cash points, more than 250 thousand ATMs and over 6, 7 million card acceptance points in more than 200 countries. At the same time, the volume of transactions in 2001 amounted to more than $36 billion.

Many will be interested to know who invented credit cards and why.

And so the credit card was invented after one incident; its future inventor, Frank McNamara, found himself in an unpleasant situation - he didn’t have enough money for lunch at a restaurant. In order for the lunch with friends not to be ruined, he had to ask his wife to bring cash. Feeling such a moral shock, McNamara thought about a universal credit book (up to that point, since the beginning of the 20th century, some stores had issued their own “credit cards,” but going shopping with a large number of credit cards in hand was not so easy). The simplicity of the idea consisted in unifying the form of a credit book or card. Which can now be easily issued without certificates from any bank. McNamara organized the Diner’s Club company (perhaps this ill-fated dinner was firmly stuck in his memory...), which became the first intermediary in working with credit cards at that time. The first Diner's Club credit cards were cardboard and were available at only 14 restaurants. But the era of credit cards had begun.

The first cards went to the neighbors of the young company, as well as simply relatives and friends of the Lunch Club employees. At first, Frank McNamara did not think about creating a massive, nationwide payment system. Diners Club was created as a payment system for businessmen and executives, respected and famous people who are ready to spend a lot of money and receive high-quality service for this money. However, high-end restaurants and bars in New York did not strive to join the “Dinning Club” of the rich and famous, and the “rich and famous” themselves did not strive to acquire a credit card at the age of 18. The problems formed a certain closed circle. There was no crowd of customers because businessmen were in no hurry to order a credit card, since the number of restaurants was small. McNamara's network had to be expanded by own money. At the same time, in California, Alfred Bloomingale, also a participant in the historical dinner, decides to compete with McNamara by creating a similar system called Dine&Sign (After having lunch, sign). At first, the business developed better than McNamara's. Need I say that the friendly relations between the two businessmen have deteriorated? However, the gap was short-lived. “After lunch, sign” has difficulties in lending. And Diners Club buys Dine&Sign, Bloomingale becomes an employee of Diners Club, and the payment system itself becomes national. The monthly turnover is more than 300 thousand dollars and, most importantly, the distribution of credit cards goes beyond the restaurant business; agreements are concluded with car rental agencies. Of course, an important factor on Diners Club’s path to success was the lack of competitors. Dines Club credit cards were pioneers, trendsetters, and crowds of followers are about to pour along the path they blazed. The story of Frank McNamara ends here; he resigns as head of the company, sells his share and devotes himself to the woodworking business. Sadly, this was the end of not only the story of Frank McNamara, the head of the first payment system, but also the story of Frank McNamara in general - two years later he died. Diners Club continues to reign supreme in the credit card market until October 1, 1958. On this day, American Express credit cards begin issuing. And then it turns out that the former monopolist is not able to compete with his follower. Within a year, American Express is catching up with results that took Diners Club seven years to achieve. Actually, the success of the new payment system is due to Diners Club - customers are already accustomed to using credit cards, a market and basic rules for working in this market have been formed. Of course, one cannot deny American Express's vast experience in working with traveler's checks and the equally enormous capital behind it. Following American Express comes BankAmericard, which initially aimed at the mass client. It was pointless to compete with the struggling Visa. Having cleared the way for new payment systems, Diners Club had to step aside and occupy its own niche.

Credit cards, produced by a certain store or oil company, were very popular already in the first half of the 20th century. They helped companies ensure customer loyalty, a greater likelihood that the debtor would return to the store to buy more on credit.

The buyer, in order to make purchases at several retail outlets, needed to have with him a large number of credit cards, that is, a separate card for each outlet, which created some inconvenience. So, in 1949, the idea of ​​​​creating an intermediary company between sellers and buyers that would issue universal credit cards that would be accepted in many retail outlets arose from a New York businessman Frank McNamara(Frank McNamara), Chairman of Hamilton Credit Corporation.

This year Frank McNamara and Co created a new enterprise called Diners Club, and this event is considered the beginning of the history of the card industry. The new company began lending to customers for a small percentage. Now, instead of individual companies offering each their own credit card, Diners Club opened credit to clients simultaneously for several companies. And the collection of money from debtors, credit card holders, was carried out not by the service companies themselves, but by McNamara and Co.

McNamara focused his attention on businessmen. They were the most frequent visitors to restaurants and, therefore, they were the ones who could be interested in Diners Club services. Therefore, the first Diners Club cards distributed to two hundred people, mostly friends and acquaintances of the company's owners. Diners Club Cards were accepted in fourteen New York restaurants. They were printed on a rectangle of construction paper with a list of all 14 restaurants on the back.

Using Diners Club credit cards, companies benefited only from what they received regular customers. In turn, the founders of Diners Club decided that companies would pay the club 7% of the amount of each purchase made using the universal credit card. In addition, cardholders are required to pay an annual club fee of US$3.

At first, things did not go very well, because restaurant owners did not want to pay the established 7% and were afraid of competition between the new cards and the credit cards of the establishments. Potential Diners Club clients did not want to buy club cards, since they used this means of payment only in a few retail outlets. However, by the end of 1950, 20,000 New Yorkers were paying for restaurant dinners with pieces of paper from the Diners Club.

By mid-1951 the company had a turnover of $325,000 and had approximately 42,000 customers, charging $3 per year for card use. It worked with 330 service businesses in New York, Los Angeles, Chicago, San Francisco, Boston and Miami. Diners Club's net profit by the end of the year was $60,000.

The company developed rapidly, facing virtually no competition. In 1952, the annual membership fee was already $5. The card was accepted in 400 restaurants, 30 hotels, 200 car rental agencies and 5 flower shops.

Status international card Diners Club received in 1953 and is accepted in trade and service enterprises in Great Britain, Canada, Mexico, France and Cuba. Diners Club franchise organizations have opened in the UK, Spain, Brazil and Australia. A new period began in the history of Diners Club International.

Diners Club credit card in 1955

In 1958, the IRS (Internal Revenue Service is a federal organization that collects income taxes) requires detailed reports on all types of corporate expenses, which leads to an increase in demand for Diners Club cards. Travel agencies in New York, Chicago, Boston, Cleveland, Los Angeles and New Orleans begin accepting Diners Club cards to pay for air tickets, ship tickets and cruise tours. In the same year, Diners Club offers insurance for cardholders on tourist trips and introduces the first program on the market for guaranteed hotel reservations.

Diners Club credit card in 1961 DINERS CLUB card issued in 1967 in Britain (this card shows a signature ribbon on the front) And here is the Card from 1974. The design of the card has changed - in the lower corner they began to emboss the start date of the card holder’s “experience” in the “ranks” of DINERS CLUB, and the signature ribbon has moved to the back of the card The design of the 1982 Diners Club card has been changed quite dramatically:

In 1961 annual fee for membership in the Diners Club increases to $ 8, the use of paper (cardboard) cards is stopped, which are replaced with plastic ones, an agreement is signed with Dashew Business Machines for the supply of imprinters leased to retail outlets.

The annual membership fee rises to $10 in 1963.

In 1965 Diners Club card begins to be accepted in Czechoslovakia, becoming the first payment card to appear within the former socialist bloc. This year they are introducing computer programs, automating the payment process.

In 1967, Diners Club actively penetrates the tourism services market, acquiring the third largest travel company in the United States by turnover ($ 60 million) - Fugazy Travel. Currently Diners Club cards accepted in 130 countries around the world.

In 1969, Diners Club - the first of all international payment systems - appears in the former Soviet Union. The service agreement was concluded with Intourist OJSC. The card is starting to be accepted in the best hotels, restaurants, Berezka stores and car rental agencies in Moscow and Leningrad. In 1972 Diners Club card is expanding its geography in the territory of the former Soviet Union: Odessa, Yalta, Kyiv, Yerevan, Sochi, Tallinn and Tbilisi. And by the end of 1973, the card began to be accepted in 21 more cities of the Soviet Union.

In 1975, Diners Club, the first of all payment systems, offers customers corporate card, and in 1976 offers its customers the opportunity to receive a loan of $ 15,000, as well as an extensive travel insurance program, provided that the plane or train ticket purchased under Diners Club credit card.

The General Services Administration elects the Diners Club in 1983 official credit card for federal employees, and already in 1987, Diners Club cardholders gain access to the network ATMs all over the world.

Production begins in 1991 joint cards with British Airways and Scandinavian Airline Systems. The World Bank(World Bank) transfers all its accounts to corporate cards at Diners Club in 1994.

Russian franchise " Diners Club" was founded in 1995, and already in 1996 the first Diners Club card International Russian bank.

In February 1998, the company granted Privatbank the exclusive right to enter into agreements on acquiring elite cards Diners Club systems on the territory of Ukraine.

A 1998 survey by the International Management Association of the United States found that Frank McNamara's creation of the Diners Club card and payment system was one of the "75 Biggest Decisions." Therefore, it is not surprising that for two years in a row (1998 - 1999 pp.) Diners Club was awarded the prestigious Freddie Award as the best payment/credit card for travelers.

With the development of the service network, the Diners Club card was increasingly introduced into the sphere banking services, more precisely, the banks themselves showed interest in the development of Diners Club. Now this is international universal card has hundreds of issuers (including banks) and millions of reception points in more than 200 countries, including Ukraine.

The main card issuers and owners of exclusive rights to conduct Diners Club International business in a particular country are independent companies - “franchises”, which today number 85 companies.

In Ukraine, cards from the elite Diners Club system are not widely used, since they are aimed at very wealthy citizens.

The credit card is, albeit not the only, but the most significant invention of mankind. It gave us freedom in our desires, but at the same time added debt dependence. The process of “evolution” of the credit card was quite long and, probably, credit card history will be of interest to modern owners plastic cards points

These are the first “swallow cards”.

America, of course, this country is the birthplace of the first plastic cards. A country where the economy is developed and the desire for a luxurious life is present.

It will be interesting to know that the initial stage in the development of credit cards was without the participation of banks. The credit card idea was pioneered by Edward Bellamy, an American writer. In his book Looking Backward, written in 1914, Bellamy described something similar to this payment instrument.

Where did the history of credit cards begin?

To be specific, the actual sculptors of the first credit card will be Mobil Oil, a company that in 1914 issued cards for goods, they were issued to wealthy clients as a guarantee of payment, made of cardboard with written or even embossed information about the owner of such a card.

Continues the baton Western Union the system issued a card in 1919 that made it possible to send telegrams to high-ranking officials at the expense of the US government. The program can be considered the first loan in this way.

Continues its development. The next evolutionary step for credit cards is metal. The idea was picked up by the Boston company Farrington Manufacturing. All client data was stamped onto the card using the so-called embossing method. Using a special imprinter device, an imprint appeared on the receipt payment card, after which the check signed by the owner could be paid at the bank. But this luxury was available only to selected individuals.

At the beginning of the twentieth century, there were quite a lot of companies that used credit cards in their activities, and transferring them could take a long time. To retain a client, almost every company or trading enterprise used payment plastic cards. But there was a problem and it was that such cards could only be used in those companies that issued them, and the owner of such payment instruments had to carry many different cards.

Many American films give us ideas about why credit cards appeared. Everyone has probably seen a shot where a visitor to a restaurant or cafe, leaving, threw the phrase “Frankie, put it on my account” to the waiter and left.

But in fact, this could only be done in a place where they know you. On this occasion, in 1946, one of the employees National Bank John Buggins developed the "Charge-it" scheme, it became the predecessor of the modern payment card. Under this scheme, the client gave a receipt, and the seller went with it to the bank and received money from it.

The dinner that became fateful

An incident that turned out to be fateful for credit card history occurred in 1949 and the culprit turned out to be none other than the head financial company Hamilton Credit Corporation Frank McNamara. It was a dinner where McNamara himself and two of his friends were present: lawyer Ralph Snyder and the grandson of the founder of Bloomingdales, the famous store, Alfred Bloomingdale.

After discussing business and having dinner, McNamara wanted to pay for dinner, taking his wallet, he discovered that he did not have enough money. To a famous banker I had to ask my wife to bring him the missing amount of money. Finding himself in such an awkward situation, Frank McNamara seriously thought about the problem of lack of cash. And he managed to come up with an idea that was completely new at that time. The idea was a credit book that could be used not in a water store or restaurant, but in many institutions. The highlight of this brilliant idea will be the presence of an intermediary between the buyer and seller. McNamara's idea was simply brilliant, it involved using one single credit card for all businesses and retail outlets. Thus began the history of credit cards.

The world moved forward tirelessly and with the advent of the airplane and the automobile, traveling became popular and naturally people wanted to buy goods not only in their own city.

In 1950, after consulting with his friends, Frank McNamara opened the Diners Club company, the same company as an intermediary between business and client. Diners Club gave the client the opportunity to pay with other companies. From that moment on, money was collected from debtors not by the company (owners of the goods), but by the company itself, the creditor of Diners Club. It was also decided that the lending side of Diners Club, credit card holders, would pay a $3 annual fee, and the company 7% of the purchase price.

The first Diners Club credit cards

The history of Diners Club credit cards began with just 200 holders, mostly close friends and select business owners. These credit cards were valid for several dozen New York restaurants.

The Diners Club credit card was in the shape of a triangle made of thick paper, with information about the restaurant owner on one side and a list of restaurants on the other.

The Diners Club company's business progressed with varying degrees of success due to distrust of the innovation, but at the end of 1950, about 20 thousand New Yorkers were already paying with these credit cards. By 1951, the company's profits grew to $60 thousand. And it was a complete success
b until the end of 1958 for Diners Club.

In 1958, American Express appeared with its credit cards and large financial capabilities. Joint-stock banks were not left out either.

Visa credit card

But story credit cards It didn't end there. Their improvement and struggle with competitive companies was only heating up. Both Diners Club and Visa companies opened the door to a new era, and made their brainchild the property of not only America.

The Baclaycard was launched in the UK, the first credit card outside the US.

Globalization and expansion of credit cards in different countries developed differently due to different localization banking systems. The development of credit cards has almost reached its peak and, as a result, nowadays you can pay with a credit card almost everywhere.

According to the latest data, more than 80% of issued plastic payment cards in the world are controlled by Master Card and Visa.

And it all started with simple cardboard...

The feat that earned Frank McNamara the Victoria Cross looks absolutely incredible even in the text. Seriously wounded, McNamara landed his plane to save a comrade - and was later forced, together with this same comrade, to repel an attack by the Turkish cavalry, simultaneously trying to bring the plane to its senses. Frank received a high reward for his courage; alas, his subsequent relations with the Australian Air Force did not work out very well.

McNamara was born in Rushworth, Victoria; He was the eldest of 8 children of William Francis McNamara and his wife Rosanna McNamara. In 1910, his family moved to Melbourne; in 1911, Francis joined the ranks of the cadets. He subsequently completed a course of teacher training and taught for some time in various schools in Victoria. Francis also managed to enter the University of Melbourne, but his student life was interrupted by the outbreak of the First World War.

As a militia officer, McNamara was drafted immediately after war was declared. After serving for some time, he went to officer training courses, and later became an instructor himself. Frank was made a lieutenant in July, after which he voluntarily joined the Air Force. Additional training helped him become a pilot in as soon as possible– by October Frank had a pilot’s license. On his first combat mission - a reconnaissance mission to Sinai - McNamara, without noticing it, was shot down; Only after returning to base did Frank learn that his plane was damaged - and there was almost no oil left in the engine at the time of landing. Subsequently, McNamara took part in reconnaissance missions and air raids more than once.

On March 20, 1917, McNamara, along with three other pilots, launched an attack on the Turkish railway junction. Instead of scarce bombs, their planes were equipped with special shells; Frank successfully dropped 3 of these shells, but the fourth exploded ahead of time, seriously damaging the pilot’s leg and stunning him considerably. Turning toward base, McNamara saw the crashed plane of his partner, David Rutherford. Frank quickly realized that David’s fate was not to be envied - allies were not taken alive in such situations, and a detachment of Turkish horsemen was already galloping towards Rutherford. Despite his own injury, Frank decided to help his colleague and landed his plane nearby. There was no space on the plane, so the rescued man had to fly on the wing; alas, the takeoff was unsuccessful - the extra and poorly placed cargo, coupled with a wound in his leg, prevented McNamara from accelerating normally and his plane crashed into the ground. Without receiving any new injuries, David and Frank headed to Rutherford's plane - after setting McNamara's car on fire. For some time, Rutherford brought his plane to life, while McNamara fired back from the Turks who arrived in time with revolver fire. They were covered from the air by two more colleagues, Roy "Peter" Drummond and Alfred Ellis.

McNamara managed to start the engine and - barely alive from blood loss and pain - brought the plane to a base 110 kilometers from the crash site. In the hospital, Frank almost died - and an unexpected allergy to a typical tetanus infection could have killed him. McNamara recovered surprisingly quickly. Comrades did not spare paints,

describing Frank's feat - and the hero was awarded the Victoria Cross, becoming the first and only Australian pilot to receive this award.

Between the World Wars, McNamara continued to serve in the Air Force. Given a place in the new Australian Air Force that arose after the collapse of the old system, he served as an officer. Frank McNamara spent 2 years in the UK working as an exchange student with the British Royal Air Force. Frank returned to Australia in November 1927, almost immediately receiving a new position. McNamara did not forget about his studies - he completed his course at the University of Melbourne, receiving (in absentia) a bachelor's degree international relations.

At the outbreak of World War II, McNamara was serving in London as an Air Force liaison officer on the Australian Legation. After several reassignments, he was sent to the Aden Protectorate. From a military point of view, this place was relatively far from the main conflicts; local military mostly hunted submarines and escorted convoys. As an aviation unit commander, Frank tried to fly on missions whenever possible; most often he acted as an observer. In 1945, McNamara received the Order of the Bath; by March he was back in London. In March, Frank faced a serious blow - Roy Drummond, one of the participants in the memorable story of the rescue of David Rutherford, died. Drummond's plane disappeared near the Azores Islands en route to Canada; everyone on board was declared dead. Frank personally delivered the news of what had happened to Drummond's widow. The war also did not have the best effect on McNamara himself - the sands of Aden seriously affected his health, which even led to a delay in receiving his next appointment; however, Frank eventually became the representative of the Royal Australian Air Force in the Ministry of Defense.

Frank retired from the Royal Air Force in 1946; A number of senior officers and veterans of the First World War left service with him. Officially, this was done in order to rejuvenate the Air Force with an influx of new, young and talented officers. In any case, the importance of Frank's position at that time was greatly reduced. For some time, McNamara was involved in educational issues, working in the British zone of occupation. Even after the work was completed, Frank remained in England; from 1947 to 1959 he served on the National Coal Committee.

Frank McNamara died of hypertensive heart failure on November 2, 1961. At the time of his death, the pilot was 67 years old. Frank is survived by his wife and two children. It is known that the Victoria Cross that belonged to Frank did not return to Australia - rather offended by his country due to his dismissal from the Air Force and rather meager compensation from the government, McNamara ordered this in his will. As a result, Frank's family donated the order to the Royal Air Force Museum.