In former times, people swaped products. Today, wearable payment is ready to go mainstream! In this infographic you see the full history of cash payments.
About 8000 years ago, people swapped valuable and rare products like shells, livestock, salt and coconut beans.
Could you imagine that 3500 years ago, people used metals such as silver or gold to pay. This wasn’t coins, but bars and rings from which pieces were cut off and weight
About 1000 years ago, Chinese merchants invented the first paper money. In the 13th century, Marco Polo introduced paper money to Europe following his journey to China.
In 1950, the first credit card were used
In the year 1644 copper plates were used in Sweden because this copper was heavy and awkward, people could swap it at the bank for a receipt. They could than use this receipt as a method of payment and considered as the first bank rates in Europe.
In the 19. century paper money was common place in Europe. And in 1950 the first credit cards were used for cashless payments. In 1994 online banking were introduced for private customers.
Today only a small percentage of money circulation is coins and notes. These have been replaced by virtual money which is transformed from account to account.
By 2025, the possibilities of payments will be endless
Another possible method of payment today, is to use your smartphone. This is one of the most simple methods as all the customer needs to do is tap their smartphone at the cash register
In the future, many people will be able to pay by wearables as they are ready to go mainstream, right now.
By 2025, the possibilities of payments will be endless. People will be able to simply press a button on their car, washing machine or fridge to order fuel, washing powder or food.