The origin of plastic payment cards - Module 8

C1 Advanced · Word Formation · Advanced Expert Student's Resource Book, Pearson Education

For questions 1–8, read the text below. Use the word given in capitals at the end of some of the lines to form a word that fits in the gap in the same line. There is an example at the beginning.

SUPPLY

LIKE

ENDURE

TRANSACT

EXIST

EASY

APPLY

BREAK

In 1954, Stanley Dashew's company was facing serious (0) ___ difficulties. With a large tax bill to pay and a (1) ___ demanding immediate payment, it looked (2) ___ to meet its next payroll. However, not only did the California-based Dashew Business Machines survive its cash-flow crisis, it went on to bring the world one of the banking sector's most (3) ___ successful innovations: the embossed plastic card. In those days, most everyday consumer (4) ___ were settled in cash, whilst larger payments involved the use of handwritten cheques. Although charge cards were already in (5) ___ , these were paper-based, and so (6) ___ torn or defaced. At the time, Dashew Business Machines was making data-imprinting equipment for the US government and Stanley saw a possible new (7) ___ of the existing technology. He developed a machine that could emboss a plastic bank card with the account holder's name and other details, a technological (8) ___ which was to lead directly to the development of the world's first credit card.

The origin of plastic payment cards

FINANCE

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