As money has been invented, fraud and volume payment became an issue.

Bartering became one of the methods used by people and is still being practiced in
different cultures. People swapped valuables against an item they wanted with another
person without involving money. Later, gold, silver, copper and bronze coins were
introduced for convenience, but became unsafe, especially with the owners, making
forgery appear. Years passed, and monetary bills have been launched into trade
markets, and became one of the modes of payment up to present. Though, people
nowadays are living in the world of Digital Technology where part of everyday life are
dependent on technology. With the use of a scheme for transactions via digital
information called cashless system, consumers’ buying behavior are growing. Further,
they can no longer bring a bigger amount of cash in their wallet, instead, they can now
pay bills through electronic cards and/or other mobile payment systems. (Moss, 2019)
The first debit card has hit the market as early as 1966 and the bank of Delaware
piloted the card. Robert Mining the author of Credit Card Nation, said debit card usage
picked up in the ‘80s and ‘90s as more and more (Federal Reserve Bank of Kansas
City, 2003). The first general-purpose consumer credit card (Bank Americard) is a
program for small to medium-sized merchants and middle-class consumers in the U.S
was launched on 1958 by Bank of Americas and it begins the journey of VISA. In 1964,
Automated Teller Machine (ATM) has been created being known to be an electronic
telecommunications device enabling the customers to do financial transactions at any
time, without needing a direct interaction with a bank staff. National BankAmericard
launches the first electronic authorization system, followed by an electronic clearing and
settlement system. (Visa, 1996)