‘You can swipe’ – John Biggins, the pioneer of the bank card
John Biggins, a visionary banker from Brooklyn, New York, is known for creating the first bank card in 1946. His innovation revolutionized the payment system, providing a convenient and secure way to conduct transactions without the need for cash.
While working at the Flatbush National Bank of Brooklyn, Biggins developed the “Charg-It,” a program that allowed bank customers to make purchases at local merchants with a credit card issued by the bank. The transactions were settled between the bank and the merchants, and the customers paid the bank afterward.
The introduction of the bank card simplified commercial transactions and offered an alternative to using cash. Although the “Charg-It” was limited to a small area, it laid the foundation for the development of modern credit and debit cards, which are now accepted worldwide.
Since the creation of Biggins’ first card, bank cards have evolved significantly. The introduction of credit, debit, and smart cards with chips has improved both security and convenience for users. Today, bank cards are an essential tool in the global economy, facilitating millions of daily transactions.
John Biggins’ legacy endures in every bank card used today, highlighting his fundamental contribution to the modern financial system.