What shaped the evolution of digital payments?

As the use of cash is declining, the adoption of digital payment methods is increasing day by day. From its early beginnings with credit cards to the recent emergence of cryptocurrencies, this timeline takes a step back to look at the different stages and milestones that have shaped the evolution of digital payments.

Where did electronic payment come from?

The roots of electronic payment can be traced back to 1871, when Western Union debuted the electronic fund transfer (EFT) in the U.S.. It was the first time when people could pay for goods and services without having to be present during the transaction process.

How have digital payment systems changed the way we conduct transactions?

Overall, the emergence of digital payment systems has fundamentally changed the way we conduct transactions. From the early days of Ecash to the rise of cryptocurrencies, digital payments have become more ubiquitous and diverse than ever before, making it easier and more convenient for people to send and receive money online.