The Evolution of the Payment Method: Barter to E-Payments

The payment methods have evolved significantly over the last 10,000 years, from bartering goods to modern electronic payment methods. Barter methods were introduced by Mesopotamia Tribes in 6000 BC and were adopted in different forms by different civilizations.

The limitations of barter methods generated the need for common currency, which led to the emergence of cowrie shells, metal coins, and modern coinage. The rise of banks and financial institutions led to the introduction of paper currency and non-precious coinage, which became the most popular form of payment until the cashless revolution.

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