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50 not out | Consult Hyperion

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What changed everything was technology: the introduction of the magnetic stripe and Visa’s BASE I online authorisation system. This changed the customer experience, transformed the risk management and cut costs dramatically. Everything changed. I can’t resist pointing out that it was the London transit system that pioneered the use of magnetic stripes on the back of cardboard cards in a mass market product (seven years earlier, in 1964).

From 50 not out | Consult Hyperion.

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Euro area card payments double in a decade

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