The city ledger came into being when Visa introduced credit cards, between 1970 and 1980.

Question

Quizplus · Accepted Answer

The concept of the city ledger predates the introduction of credit cards by Visa. It is an accounting term used in the hospitality industry to track transactions that are not settled at the point of sale but are billed to entities like companies or agencies, a practice that has been in use long before the 1970s. Visa, originally launched as BankAmericard in 1958, introduced credit cards as a form of payment, not accounting practices like the city ledger.

The City Ledger Came into Being When Visa Introduced Credit