The First Credit Card Was Invented Because Someone Forgot Their Wallet

In 1949, a businessman named Frank McNamara went out for dinner in New York with his clients. When the bill arrived, he realized he had forgotten his wallet. His wife had to rush over with cash to save him from the embarrassment.

That night, Frank had an idea: what if people could pay without always carrying cash? A year later, in 1950, he launched the Diners Club Card, the world’s first credit card. It allowed members to dine but then pay later. At first, only 27 restaurants in New York accepted it, and there were just 200 cardholders. But the idea quickly spread because it made paying so much easier.

Today, billions of people use credit cards, and the concept has expanded into debit cards, digital wallets, and UPI payments. All because one man forgot his wallet at dinner!