The first generation is a relative term and should refer to the earliest payment and settlement method.

The earliest idea of ??using cards to pay originally came about in 1915. Some hotels and stores in the United States issued some so-called "shopping cards" to attract business. This was the prototype of a credit card.

In 1951, Franklin National Bank in California issued a card to its customers that recorded the customer's account and deposit amount. Customers could use this card to make purchases at local retail stores. Because this method was so popular with customers, banks rushed to imitate it. Early credit cards did not charge cardholders fees and interest, but they required cardholders to repay all debts at the scheduled settlement date.

In 1965, Bank of America formed the first credit card network on the West Coast of the United States. Later, banks in Illinois also formed the Midwest Bank Card Association, which was the predecessor of Visa and MasterCard. Credit cards provide bank customers and retailers with a convenient and secure payment tool. Therefore, they are very popular and the credit card business is developing rapidly.

The payment system (Payment System) is composed of intermediaries that provide payment and settlement services and professional technical means to realize the transmission of payment instructions and fund settlement. It is used to realize the settlement of claims and debts and the transfer of funds. A financial arrangement sometimes called a clearing system.