Bankcard was a shared brand credit card issued by financial institutions in Australia and New Zealand between 1974 and 2006. It was managed by the Bankcard Association of Australia, a joint venture of Australia's largest banks, and was the nation's first mass market credit card. Before 1974, only store cards, Diners Club and American Express were available in Australia and these were either restrictive or only accessible to the wealthy. In the first decade after its introduction, Bankcard dominated the Australian credit card market, with more than five million cardholders at its peak in 1984. As a result of a declining cardholder base, falling transaction volumes and shrinking market share in relation to internationally accepted credit cards such as Visa and Mastercard, the card was withdrawn from use in 2006. More information...
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