Western Union launches wire transfer service

Federal Reserve Banks in US begin to transfer money electronically

Diners’ Club debuts as first independent credit company

First Electronic Data Interchange messages sent

Bank of America launches BankAmericard (later to become VISA)

Interbank Card Association forms (and launches MasterCharge - later MasterCard) - created standards and rules, as well as a system to process payments

IBM unveils magnetic stripe for card security

Launch of electronic online authorization of credit card transactions

American Airlines rolls out first credit card rewards program

Canadian Payments Association launches Automated Clearing and Settlement System (ACSS)

Interac formed for shared ATMs (then later, debit transactions)

Birth of the World Wide Web

First WWW server for commercial purposes

Stanford Federal Credit Union offers first internet banking service in the US

Pizza Hut accepts first internet online purchase

Netscape releases the Secure Socket Layer (SSL) protocol

First mobile payments are made through text message (Coca Cola, Merita Bank)

Mobil introduces SpeedPass payments using RFID

PayPal is founded

Payments Canada launches Large Value Transfer System (LVTS)

EMV Chip & PIN transition begins

First Near Field Communication (NFC) tags and NFC-compatible phone (Nokia 6131)

First iPhone launched

Bitcoin created

Google Wallet is launched

Rogers/CIBC complete first mobile wallet transaction in Canada

Apple releases ApplePay

Payments Canada launches Modernization program

Launch of ISO 20022 AFT Messages for use in Canada