MasterCard is the second largest credit card network in the world. It is accepted at almost 29 million locations around the world.
MasterCard was originally set up by a number of Californian banks including Crocker National Bank that were reacting to the Bank of America Card which was the first successful credit card. Many Californian middle class households had been using revolving credit facilities at stores and with car and appliance manufacturers for years; but in the 1950s the Bank of America managed to launch a similar facility with a central provider of credit. The Bank of America card (which later became the VISA credit card) was the first credit card to be able to do this successfully. (more…)
