Master Charge marked the dawn of the iconic orange and red MasterCard logo. The banks launched Master Charge as a direct competitor to BankAmericard which had already gained quite a bit of market share in the country.
Its launch came with the formation of the Interbank Card Association (ICA) by banking institutions that were trying to offer a solution to a surge in demand for card payment services. MasterCard was launched way back in 1966 and is considered to be among the pioneers of the card-based payments we have today.
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