Q:

Who invented the debit card?

A:

Quick Answer

The Bank of Delaware invented the debit card in 1966. By the 1970s, other banks caught onto the idea and began making similar cards for their own customers.

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Full Answer

Debit cards are issued from a bank or credit union, and linked to a personal checking account. The card essentially acts as a cash transaction but without the need for physical cash. Each user creates a unique personal identification number associated with the card that is entered into a keyboard at time of purchase; since the card is linked to a checking account, the money for the transaction will be deducted directly from the given account.

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