In addition, credit cards help serve both customers

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A Brief History of Mastercard
Mastercard's history can be traced back to the rise of BankAmericard, which later became VISA, Mastercard's strongest competitor. BankAmericard came before Mastercard and had no profits until May 1961. To fend off the competition, their profitability was not disclosed until 1966, when their profits became too obvious. In response, the number of newly introduced credit cards in the United States increased from 10 to 440. Several banks issued these cards. However, they had to join forces because 16 states limited the number of banks with branches, and 15 states prohibited the branching of banks. Because of the unit banking system, the banks joined a regional bank card association, which would soon become Mastercard. The association allows banks to add credit cards to their financial products and outsource back-office functions.

and merchants. In 1966, a meeting of bank hong kong whatsapp number data representatives was held in Buffalo, New York, which gave birth to the Interbank Card Association (ICA). ICA changed its brand name and logo in 1969 to compete with BankAmericard, which was already the market leader. ICA was changed to "Master Charge: The Interlink Bank" and the logo to interlocking orange and yellow circles. Later, Master Charge was refined to Mastercard. Mastercard's merger with Eurocard allowed it to penetrate the European market. Access Card also joined the two forces in 1979. In 1983, MasterCard International Inc. pioneered the use of holograms as a security measure. They acquired the Cirrus ATM network in 1985, Access Card in 1997, and merged with Europay International in 1992. The company began selling stock to the public on May 25, 2006.