- Cashless payments continue growing
- Technology to handle debit and credit card payments
- Aptito restaurant management solution driving sales
The payment system has come a long way from the time when transactions were mainly settled in specie. In antiquity and during the medieval period, purses glittered with gold and silver coin. Then, paper money, used by the Chinese a thousand years before, began to appear in 17th century Europe. From the late Renaissance to the end of the 20th century, banknotes and, increasingly, checks were used to transfer funds and make payments. Now, with the internet girding the globe, these media are being replaced by electronic means, like those offered by innovative fintech, Net Element, Inc. (NASDAQ: NETE). This global financial company provides merchants with the technology to accept funds electronically through an omni-channel environment that includes both online and offline payments.
A dollar paid may be a dollar received, but not all payments are processed in the same way. A typical debit card transaction can actually be processed in two ways, online and offline, which terms, misleadingly, differ from their colloquial meanings. In an online transaction, a consumer authorizes…
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