The Evolution of Payment Systems: The Past, Present, and Future

Over the years, commerce has evolved from simple exchange of products to the intricate buying and selling that occurs online every day. E-commerce, as it’s so called, now allows people to make orders and payments from any part of the world.

But how did it all happen? How did we make the bold leap from brick-and-mortar stores and magnetic-stripe cards to I.T solutions and web-based transactions?

The past

Some payment veterans credit the development of the Electronic Data Interchange (EDI) as the first milestone towards an e-commerce future.

Replacing traditional mailing and faxing, EDI enabled trading partners to transfer invoices, orders and other business documents using a clear and acceptable data format, the ANSI ASC X12. The years following EDI saw numerous attempts at transforming electronic transactions from B2B to B2C trading.

Despite the effort from 80s innovators, it wasn’t until the late 90s when online shopping took off. Following the development of the first security protocol – the Secure Socket Layers (SSL) – encryption in 1994, significant advancements ensued including the launch of the largest online retailer in the world, Amazon, a year later. And the biggest online search engine, Google, in 1998.

The Present

Today, the growing use of the Internet, computers and mobile devices has led to rapid e-commerce expansion. Consumers now have thousands of products in the palm of their hands, and thanks to effective payment technologies, the shopping experience is simple, convenient and exciting.

Unsurprisingly, however, the adoption of digital methods has put additional pressure on merchants to provide efficient and streamlined payment processes.

It’s often suggested that the best payment method is that which the customer interacts with as little as possible, while the magic happens behind the scenes. This is why online payment services providers like eMerchantBroker have become so popular.

In addition …

How to Renew Lapsed Car Insurance

In this busy life, it is not surprising to forget a few important things like renewing your car insurance policy.

If your car insurance has expired, you legally cannot drive your four wheeler on the roads. If the cops catch you, they may levy a mammoth fine or even seize your vehicle. Actually there are many negative consequences of not renewing the car insurance on time. Also, renewing a lapsed car insurance is a tougher job as compared to getting a new one. Here is what should be done in case of an expired car insurance:

Contact your insurer ASAP

What is important is, as soon as you get to know that you have expired your four wheeler insurance, immediately contact your car insurer. If you have just expired your policy, you may get a grace period and it may get renewed without paying an extra cost or penalty in an easy process. Some companies offer grace periods while some don’t. The grace period can range from 3 days to as many as 30 days. But with this, some companies do levy a late fee or penalty for using the grace period. However, if much time has already passed and you are out of your grace period, you may have to bear a lengthy process and also a penalty. In both the cases contact your insurer immediately and ask what has to be done without wasting any more time.

Keep the documents handy

You must keep important car related documents handy to immediately pass on to the insurer when asked. The documents for renewing your lapsed car insurance policy may include car RC or a copy of your previous insurance policy. Also fetch the documents regarding all the past claims if you have taken. This is necessary as only after …

Interest Free Finance Vs Standard Fianncing

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The fact that you can have one specific Islamic finance structure or particular side of a structure permitted by the Shari’a committee of 1 explicit Islamic finance institution however not one other just isn’t helping the growth of this business. Fortora Fresh Finance tries to ship a terrific product and also great buyer companies. Could be a main headache when funds dry up and it’s worthwhile to supply finance to continue buying and selling.

Hi Magdy, in point 4 beneath the heading ‘Advantages of Lease finance over buy of asset’ I’ve mentioned your point, however it was not explained elaborately, Thanks for clearly explaining it with a reference and helping the readers. An MBA program in Finance field is the key to success for potential candidates finding out commerce in addition to engineering fields additionally. This article summarizes a number of the Islamic finance buildings typically applied in mission financings and looks at a number of …

About Us Finance TnT

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It’s utilized: One frequent theme across all my books is that I believe that monetary tools are best illustrated with real companies in actual time. A strand of behavioral finance has been dubbed Quantitative Behavioral Finance , which uses mathematical and statistical methodology to understand behavioral biases along side valuation. The course is led by Dr Isaac Tabner, who is a senior lecturer in finance, a holder of the CFA Constitution, a full member of the CFA Institute, the CFA Society of the UK and of the Personal Finance Society from which he and has a diploma in monetary planning (DipPFS). CalSTRS has already moved to divest from coal corporations (see Reuters story right here ), but teams resembling Fossil Free California are pushing them to take away oil holdings from their portfolio. Most individuals assume that is the main cause homeless folks do not get jobs and which may be true for many chronically homeless people.

In …

How Much Value Does The Finance Business Create?

FinanceThese are the kinds of gifts that would be most appreciated by households who’re going through robust financial times. Likewise individuals who receives a commission based on what fees they cost a business proprietor are not prone to be probably the most appropriate supply for helping small businesses to cut back the fee structure. However as Upton Sinclair noted, there are some jobs – like being a central banker, or a New York Times editorial writer – that require the applicant to not perceive the subject they are assigned to study. Islamic finance lends itself more to tasks that incorporate a discrete set of belongings that may be owned by the Islamic financiers without too much potential intrusion on the enjoyment of such rights by conventional banks under intercreditor arrangements. We’re like minded entrepreneurs with nice ideas to help others but battling elevating finance for our undertaking.

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M&A will not be an informal company event, although some firms (like pharmaceutical company Valeant in 2015 or GE in instances of yore) acquired others as steadily as the weather adjustments. Finance Wales can now again expertise ventures from the Wales Know-how Seed Fund in addition to the Wales Technology Venture Investment Fund. Gerald Celente’s on-time pattern forecasts, vibrant fashion, articulate supply and vivid public presence …