Progress and Transformation in Payment Methods: From Barter to Monetic Digitalization

The evolution of payment methods from barter to digitalization has transformed financial transactions, enhancing efficiency and security. This chapter traces this progression, highlighting key milestones such as the introduction of credit cards and the rise of mobile payments. The COVID-19 pandemic accelerated the adoption of digital payments, particularly mobile transactions, due to their convenience and security. The chapter examines the digital payment ecosystem, including the roles of cardholders, issuers, acquirers, and merchants. It also explores the increasing relevance of mobile payments and their impact on consumer behavior. The shift toward digital and mobile payments signifies a move toward a cashless economy, driven by technological advancements and changing consumer preferences.