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Posted January 7, 2016

history of payments


For millennia, humans have participated in a constantly evolving economy, and with that came an evolution of how they paid and received money. From conch shells, clay, grain and ivory of pre-history to the rise of paper money to the payments of tomorrow, transactions continue to grow, morph, and evolve with technologies introduced and global trends.

For instance, did you know that in 1861, paper currency was introduced in the United States to combat coin hoarding during the Civil War? Or that the first credit card was introduced in 1951 and the first ATM in 1969? How about the fact that since its peak in 1995 (49.5 billion), check use has been constantly declining?

From cash to checks to mobile payments, payments around the world have had an intriguing history, and in our latest infographic, we highlighted the key dates in payments history, as well as a brief look into the future of payments.

Infographic: A Brief History of Payments

Since 1983, WEX has been around to help your organization thrive in the evolving world of payments. From fleet to travel to healthcare, we have been leading the charge into the future of payments.

Learn more about WEX’s history, and follow us on Twitter for all the latest in payments news.

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Corporate Payments Insights