February 17, 2009
UK Payments
Story link: UK Payments
Every few years some thing is developed by banks that allow the UK citizen to get themselves just into a little bit more debt. Whether that’s a credit card, overdraft, cheque and so on, it’s all developed in a unsustainable way.
The cheque was an innovation 350 years ago, but now it is said to be in irreversible decline. Replacing it are new types of technology including debit cards that you press to a sensor in order to pay.
How did we get to this stage? This timeline looks at key moments from the past four centuries that influenced the way we pay.