The Changing Face Value of Money

by Tristan Jackson on Dec 23, 2010

Money underewent a series of evolution before it has reached to what it is today. During 1200 BC, cowry shells were used as money and then it developed to coins and then to bank notes. These changes lead to the paper and coin currencies that we use these days and that we call money. However, it already evolved in the form of electronic money or digital cash. This is the money we used to exchange online. Credit cards, debit cards and ACH or Automated Clearing House network are some methods that we use for electronic payments. Direct deposit, direct debit and electronic checks or e-checks are included in the ACH system. Electronic payment is preferred by many people because of its convenience. In this method, you need not handle money, write a check nor swipe a credit card. All you have to do is enter your account information, such as your credit card number and shipping address into your web browser and, with just a few mouse clicks to confirm your purchase, you're done. Because of how easy and convenient this mode of payment is, many people are becoming more and more enticed to use it. Businesses employing electronic payment methods or e-commerce could certainly lower their expenses because they spend less on paper and manpower. Those who have tried this kind of transaction, they would certainly come back for more, thus businesses gain more customers. Even banks nowadays are offering options for online bill pay services to their clients to serve them better. The main concern regarding electronic payments are possibility of identity theft and breach of privacy. But fortunately today, online businesses have done safety measures so that their customers are protected. Anti-virus protection software and firewall programs on your computer make ensure that your online business transactions are safe. A key lock icon usually found at the bottom corner of a browser indicates that you are dealing with a secure server, you should look for this before you send your credit card information. Electronic payment is here to stay despite the risks involved. It has been reported that more than 94% of large banks and more than 65% of community banks are now offering these services to their valued customers. You should try electronic payments if you have not used one. You don't have to be a geek to use electronic modes of payment because it is very easy and convenient as well.

General

Source: For a successful online business, be sure to accept credit cards as payments for your goods or services. Electronic payments are now the fastest way to do business and they will be safe as long as all necessary precautions are in place.
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