Visa

3244.927 - 3269.738 David Rosenthal

Yep. And the banks would take the sales drafts from their merchants that the merchants had brought to them. And then they would go kind of individually decentralized mail around the country to the issuing banks, the cardholder banks, to get the money. And the way they financed all this was a discount fee, just like checks back in the day. Like, oh, hey, this sales draft is for $100.