Protecting Plastic: Credit Card Fraud in Historical Perspective

Sean H. Vanatta ()
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Sean H. Vanatta: Princeton University

Chapter 16 in The Book of Payments, 2016, pp 167-176 from Palgrave Macmillan

Abstract: 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.

Keywords: Credit Card; Department Store; Payment Card; Card System; Card Network (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-60231-2_16

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DOI: 10.1057/978-1-137-60231-2_16

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