The payment methods they have existed for centuries and have always played an important role within societies.
Their evolution over the years has been considerable:we have gone from simple and physical barter to the difficult and abstract world of technological innovations .
The technological advent and globalization have allowed the evolution of payment systems.
Ancient payment methods:bartering
The oldest of payment methods:barter
In less developed social organizations, the production and exchange of natural products or hunted animals or their derivatives, they took place for the sustenance and safety of the individuals who made up the family and were aimed at satisfying basic needs.
Barter was widely used, in the first phase of the early Middle Ages due to closed economies with an agrarian-feudal structure, with few commercial monetary exchanges.
The coin local circulation was used at that time to supplement the value of the goods being bartered.
The reasons for the transition from simple bartering to the use of money commodities can be found in different characteristics.
The use of a payment unit accepted by the entire community made it possible to facilitate the triangular exchange and the setting of a reference price for the goods on the market.
The value of salt and wheat, elements most used, was not stable enough and because of this since 2000 BC. i precious metals - gold, silver and bronze they established themselves as an ideal counterpart, given their natural scarcity.
Sestertius in bronze
The continuous growth of the demand for coins was higher than the supply of precious metals to produce them, and with the continuous increase in trade, the metal coins have established themselves.
The first form of banknote dates back to the year 1180.
The banknotes they were issued by the state, did not have an expiration date and were accepted as a form of payment by the majority of the population.
The key invention, for the evolution of payment methods, was the birth of the payment card.
Technology was fundamental for the evolution of payment cards.
In 1967 the ATM was invented ( Automated Teller Machine ), a system that allowed you to withdraw cash from your bank account automatically at all hours of the day.
After 1980, in the United States, there was a significant growth in the use of payment cards, due to the end of a situation of stagflation and the economic recovery.
Individuals and companies began to spend more and to borrow more:the result was an increase in the use of credit cards.
During the 1990s, ATM cards, which technically were debit cards, became much more used to make a payment.
These cards came with a chip and could only be used by entering their PIN number.
Modern payment methods:internet
The main evolution of electronic money takes place with the introduction of internet.
The ability to make payments globally at reduced costs and time is a huge advantage in the field of payment systems.
Financial Technology, known as FinTech , describes the financial services offered through the use of software and modern technology ( Blockchain, Big Data, Crypto coins, Internet of Things, etc.)
An example of how the internet has favored companies operating in payment systems is the company PayPal, recognized as first FinTech company .
PayPal offered and still offers a money transfer service .
The company deals with processing payments online, securely, allowing the sale of products and services directly through the use of the internet.
Payment methods today:cryptocurrencies
The Bitcoin phenomenon represents an attempt to create a tradable digital currency free of intermediaries.
From 2009 to 2018, Bitcoin has seen great success, both in terms of media that of use.
The use of this innovative payment method involves the use of a new unit of account, the cryptocurrency bitcoin.
The cryptocurrency bitcoin exists only on the web and is used by internet users, especially in video games, trading platforms such as BitQH, in online gambling, in e-commerce and the like.
To date, almost all E-Games allowed their users the opportunity to earn or purchase the “game currency”.
The revolutionary idea is the creation of a currency which, earned in-game , can be spent outside the platform in other games or other markets.
The same goes for cryptocurrencies.
Their use is particularly visible in the world of e-Gaming and online casinos , where more and more players are choosing cryptocurrencies as a method of payment and withdrawal of winnings.
Because such transactions prevent fraud and other criminal activities, cryptocurrency-accepting casinos are therefore safe for users, but also for themselves.
security in a payment system is of fundamental importance, as it allows the user to use certain tools in a safer, more comfortable and worry-free way.
The speed of use and transaction brought by the new payment methods is a tangible benefit for consumers.
Make a payment at a point of sale using a contactless system, whether it is a system implemented on a credit / debit card or through a digital application, it has significantly reduced the execution time of the transaction ( Photo from :news.italy-museum.com/it, monetedivalore.it, ilbankariese.altervista.org and lindro.it).