16. Protecting Plastic: Credit Card Fraud in Historical Perspective

2016
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Author: Sean H. Vanatta
Published in: The Book of Payments
Publisher: Palgrave Macmillan UK

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Abstract

This chapter offers a glimpse at the early history of credit card fraud in the USA. It argues that fraud became prevalent when travel and bank card issuers disembedded cards from their original department store context. It then provides three interrelated frameworks for understanding the challenges fraud posed to issuers—as a network problem, a cultural problem, and a legal problem. Though travel and bank card firms eventually overcame these challenges, card fraud continued (and continues) to plague the industry, suggesting fraud may be endemic to payment card systems.

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previous chapter Entrée: The Rocky Origins of Visa’s Debit Card

next chapter Mondex and VisaCash: A First (Failed) Attempt at an Electronic Purse

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Title: Protecting Plastic: Credit Card Fraud in Historical Perspective
Author: Sean H. Vanatta
Publisher: Palgrave Macmillan UK
Book: The Book of Payments
Print ISBN: 978-1-137-60230-5

Electronic ISBN: 978-1-137-60231-2

Copyright Year: 2016
DOI: https://doi.org/10.1057/978-1-137-60231-2_16

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