Abstract
We can say with full conviction that the evolution of computer science, use and opportunities that credit cards provide to us, has made them the most used tools in the world today. Use of credit cards is simplified to the maximum, but behind them lies a complicated system of gains that begin and end up with the use of credit cards. In this great system that works perfectly different actors are in the race to increase their profit. Albania had been part of this system too late. Electronic cards market in Albania is composed of contemporary systems of credit cards, the not well informed users and banks that do not have an approval model for applications. This one because they have not needed such a thing yet. Lack of approval models for applications, even if it does not seem to be an emergency, it is a handicap that must be crossed in order to prevent socio-economic problems that may arise in the future. DOI: 10.5901/ajis.2016.v5n3s1p345
Highlights
The first ideas on the credit card and its use are provided by the writer Edward Bellamy in the book entitled "Looking Backward"
The basic work of this company (Acquirer) is to contact sellers or merchants who want to use the POS machine, and enabling the use of credit card by achieving the agreement to use the POS machine (Ann Kjos, 2007. p.3). We find this type of system used in companies that issue credit cards like Visa and MasterCard (Chakravorti, 2003, p.54)
While it is to be noted that the greater number of this group have "personal servant" followed by "labor" and "others", coupled with a limit of relatively low card. This contradiction shows that the bank has free hand to its employees that deal with the approval of the credit cards to use their intuition to approve or not the application to the last
Summary
The first ideas on the credit card and its use are provided by the writer Edward Bellamy in the book entitled "Looking Backward". After the book of Edward Bellamy only in 1914 was issued for the first example of the credit card company "General Petroleum Corporation" scattered workers and its loyal customers with card, where through it they can buy its products Bank of America was one of the first banks that gave rise to electronic communication network for the operation of credit cards. The formation of the electronic network increased the number of customers (credit cards) as well as their actions. In 1970, following the example of Bank of America a number of financial companies that were in the same market merged the capital to form a network ICA (Intern bank Card Association) today known as MasterCard. In the same way the 1958 American Express Company created the "American Express", while Sears and Roebuck & Co. created "Discover Card" in 1986 (Phil Brit, 2008, p.1)
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
