Coin Charge Metal Small Person Eslpod Payment Systems

Before the "advent" (creation and appearance) of credit cards, there was a large "untapped" (unmet; unfulfilled) need for credit. One of the first ways that stores and hotels "issued" (provided; offered) credit was through the use of "charge coins." These were small, round coins made from plastic or metal with a small hole in the middle. People could put the coin on a "key chain" (the small ring of metal or plastic used to hold one's keys together) and then, when they wanted to make a purchase, show the charge coin to the "clerk" (the person who accepts money in a transaction). The clerk would copy the number on the charge coin to a "sales slip" (receipt) and the person would be billed later. Charge coins became increasingly common the late 1800s through the 1930s.

Unfortunately, the charge coin did not include the name of the person who would be "held responsible for" (made to pay for) the charges, so it was easily stolen, resulting in "fraudulent" (dishonest and illegal) charges.

Beginning in the 1930s, stores began using the "Charga-Plate," which was a small rectangle of metal that had the customer's name and address. The plate was put into an "imprinter," or a machine that transferred the "embossed" (raised print) letters onto the sales slip, at the same time creating a copy for the customer. Customers were able to sign the back of the card, and that way the clerk could compare the buyer's signature to the signature on the back of the card, reducing the "potential for" (possibility of) fraud.