It is neigh impossible to imagine that credit cards have an active history that predates to only fifty years. After the credit cards came into vogue, one would find the purses bulging with multitude of credit cards, and cash hidden in some obscure corner. Credit cards have attained widest acceptability for individual commercial transactions, as every transaction done through a credit card is backed by the guarantee of a bank to make the payment on behalf of the user. This is the primary reason why even in small shops one can find signage of credit cards of various merchant establishments displayed prominently announcing about its acceptance. In these times when there is always a threat of loot looming large in the neighborhood shops, encouraging business through credit cards is in everyone’s interest. Cash is really becoming a discounted commodity after the advent of credit cards.
Food joints are still the places where the cards are in used to the maximum. It is logical as the first credit cards were made to facilitate eating out among the traders by the Diners Club. The acceptance of credit card is increasing as it ensures increased number of business transactions...
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