1.1 History of money till date

Since the times of ancient Greece money has been virtually synonymous with cash: coins and later banknotes have provided people with an efficient and widely accepted means of payment for their everyday transactions. In recent years, however, the digital revolution has led people to significantly change their payment habits – tapping a card, swiping a phone, or using a smartwatch to pay is becoming increasingly common.

Payween primarily looks at the starting point of the process while determining its targets. In this context, the need for the emergence of the concept of trading without money has been seen not recently, but since the times of primitive societies. The exchange of goods, barter/barter trade that primitive people developed in their own time has shown that humanity always has to trade, buy and sell things. The concept of commerce, which emerged in the 15th century, only started to become more effective in the 18th century with the development of distant trading and urban trading.

Today, people have innovations and technological opportunities that will enable them to reach the target in a much faster time thanks to the developing possibilities of the goods, products or services they produce or buy. However, every developing process has to find and offer new solutions both within itself and because of the innovations added to it. Although Money and Trading are in a rapid change in 2022, the solutions and deadlocks brought by every innovation included in the system travel together.

We all have witnessed that the traditional payment modes have been replaced by various types of payment methods that are quick and efficient. In payment process both buyer and seller use digital modes to send or receive money in our era, it is an automatic process where seller and the buyer can avoid visiting their bank. It eliminates the physical cash that is risky to handle at times. Today consumers can make payment through electronic modes by using cards and other platforms that are made available through all types of smart devices. The acceptance of particular payments by sellers and businesses has an important influence on the purchases made by their clients, as the availability of the various modes help the consumer to choose that is suitable or available to them as well.

Digitalisation has the potential to revolutionise payments. However, it is important that businesses still have a choice. We are therefore working to ensure that a public, simple, costless and safe option remains available in all circumstances.