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Future Tech: 

The evolution of payments – from sheep to smartphones

In 2015, there’s never been more way ways to pay. Whether you carry a smartwatch or a pocket full of change – or simply order what you want online – payments are fast, simple and painless. At least until the next time you check your bank balance, anyway.

Buying and trading goods, though, hasn’t always been so simple. Even if you do worry about the security of contactless payments and online transactions, you can thank your lucky stars you’re not pushing sheep up the hill to pay for groceries. Just look at how far we’ve come in the infographic below.

The evolution of payments
from sheep to smartphones
Sheep: 9,000 – 6,000 BC
Abu was a Neolithic farmer. He needed a new grinding stone, so he traded sheep with a local craftsman who made the tool.
Coins: 700 BC
Niobe from Lydia needed fabric to make a dress. She paid the village shop with one of the first ever coins, made from electrum – an alloy of gold and silver.
Receipts: 600 AD
Merchant Ling went to Shanghai and made the trade of her life. She sold everything she had and was paid by a paper receipt to save her carrying heavy copper coins – she received the first paper money.
Checks: 1659 AD
Nicholas Vanacker owed Mr Deboe £400, but had neither the coins nor paper money to pay such a large debt. Instead, he wrote one of the first ever checks, requesting that his bank honor the promised payment.
Credit Cards: 1952 AD
Travelling salesman Frank dined in a new city every night. Instead of carrying cash, he put each meal on his Diners Club card and paid his expenses later with a single check. The credit card was born.
ATM’s: 1967 AD
British actor Reg Varney was invited to a strange inauguration. He was one of the first to draw money from an ATM in Enfield Town, North London.
Internet Shopping: 1994 AD
Accountant Ashley treated herself to takeaway pizza after a hard day’s work. She visited the website of her favorite restaurant, picked her topping, and paid for the delivery in just a few clicks.
Virtual Currency: 1996 AD
Oncologist Douglas Jackson had been dreaming about a monetary system that transcended borders and time zones. He turned this dream into reality by founding one of the first forms of virtual money – e-gold.
Text Messages: 1997 AD
Window cleaner Tom had worked up a thirst. When he got to the vending machine, he paid for his Cola with a text message in one of the earliest mobile payments.
Contactless: 2005 AD
Patrice was running late to catch her train. She saved time by paying for her tickets with a contactless debit card and found her seat with seconds to spare.
Online Transactions: 2014 AD
Student Suzanne was paying for groceries on her Windows tablet but was nervous about giving away her details. She secured her transaction with Banking & Payment protection featured in ESET Smart Security 9.
2015 AD
Now, there are many more ways to pay – from smartphones and watches, to mobile wallets and biometric scanners.
Whichever you decide to use, protect your online payment with Banking & Payment protection.
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