Authors: Ramya K Cherukuvada, Raghu V Kaspa
Abstract: Credit cards have become a cornerstone of modern financial systems, enabling convenient and secure transactions for consumers and businesses alike. From their humble origins as store-specific charge cards to today's multifaceted digital financial instruments, credit cards have undergone significant technological and regulatory transformation. This research paper explores the historical trajectory of credit card development, evaluates current technological and regulatory frameworks, and examines forthcoming innovations such as artificial intelligence, blockchain, biometric authentication, and sustainability practices. By leveraging a combination of historical analysis and forward-looking insights, this study aims to provide a comprehensive understanding of how credit card payments have evolved and what future advancements may entail.
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