Bank Card Creator. He was educated at the University of Pennsylvania prior to serving as an infantry officer in World War II. Upon discharge, he applied directly to A.J. Giannini, Bank of America's founder, for a job. By mid-1957, he was senior vice president of the bank and leader of a research group assiged the task of creating new banking techniques and products. Despite early failures in devising a bank card, the new devise had features that served as the credit-card standard for decades - the 25 day grace period, an 18 percent interest rate plus the amount that could be charged without the merchant calling the bank for approval. The bank card became a national fixture and finally world wide. It became an instrument accepted by merchants allowing people to roam the world with nothing but a piece of plastic and enabled one to obtain credit with ease.
Bank Card Creator. He was educated at the University of Pennsylvania prior to serving as an infantry officer in World War II. Upon discharge, he applied directly to A.J. Giannini, Bank of America's founder, for a job. By mid-1957, he was senior vice president of the bank and leader of a research group assiged the task of creating new banking techniques and products. Despite early failures in devising a bank card, the new devise had features that served as the credit-card standard for decades - the 25 day grace period, an 18 percent interest rate plus the amount that could be charged without the merchant calling the bank for approval. The bank card became a national fixture and finally world wide. It became an instrument accepted by merchants allowing people to roam the world with nothing but a piece of plastic and enabled one to obtain credit with ease.
Bio by: Donald Greyfield
Gravesite Details
July 2011: The cemetery manager could find no burial for Joseph Williams at Riverside Memorial Park in Norfolk, Va.
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