History Of Money

Interchange fees arose from the structure of the Visa and MasterCard networks . Visa adopted a fixed change over fee which was not colligate to the merchant send away charged by individual acquirers A equal fee bring down the transaction hails of negotiating separate turn over on fees between acquirers and issuers and eliminated the difficulties that issuers faced in monitoring in the merchant discount circumscribe by the acquirers . Visa and MasterCard reduced the interchange fees charged to supermarkets hence reducing the merchant discount . well-nigh regulations were also imposed on regulating lineup frauds that many banks face . Fraud card detectors hold back been setup and laws brass the enactment of the card fraud have been set to retaliate those fraudstersThe winners of the cashless society be the consumers or u sers of the cards because they have been wrapped from the risk of physical theft of specie . even so though there are fraudsters , the users are not overt to so much risk of theft . Card users evoke in effect purchase things online irrespective of the distance because tout ensemble transactions are done to the and at a rattling high make haste .

The losers are the merchants or caller-up providing this services because the have to line up all the expenses of circumstance up this technology and infrastructure . in conclusion they start the problem of making all transactions mathematical regardless the dist ance and parties involved . The merchants in! cur all this cost and expenses in this cashless society (Buiter , 2005ReferenceBuiter , W (2005 : New developments in fiscal political economy : Economic journal , Vol . 115Thorndal , J (1994 : Prepaid cards and financial Review : - Danmarks PublishersKrueger , M (1999 : Towards a Moneyless being : Dept of political economy and finance : University ofDurham PressPrinz , A (1999 : Money in the sure and realistic World : Netnomics journalWallace , N (1983 : A suggestion for oversimplifying the possibility of money Economic journal...If you want to get a encompassing essay, guild it on our website: BestEssayCheap.com

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