The Story of Payments
By Richard Oliver & George Warfel Jr.
Written by experienced experts from both the private and the government sector, The Story of Payments: How The Industrialization of Trust Created the Modern Payments System tells the story of how payments – between people, merchants, employers and governments – emerged from the ancient system of barter and grew, through various technological implementations ranging from coins and paper money to checks, wire transfers and credit cards to today’s entirely electronic local and international payment systems.
Readers will learn the inner workings of the U.S. Payments System that allow it to work effectively and efficiently, including the technology, standards, laws and regulations that provide ubiquity and ease of access.
The authors also provide insight into the inherent risks of the payment system and set forth a model for future innovation and change. The Story of Payments: How The Industrialization of Trust Created the Modern Payments System is a practical manual for those who make and receive payments, an instructional manual for those who work in payments, and a fascinating historical exploration of the role the world’s payment systems have played in creating the commercial society we live in today.