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How did the funds transfer? Did you have to mail the slips to them?

Yes.

But there used to be only -
VISA, MC, Amex, Diners Club (which only was for restaurants, initially)

So there were a limited number of processing centers to which they had to be mailed.
Some places only accepted one kind of card.
That's why department stores had their own, they didn't have send off that processing.

It was not until digital processing that individual banking institutions started issuing their own cards.

peace & processing
t
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