7 August 2015
History of cashless payments
By Vasily Bernstein, DataArt
Vasily Bernstein, Payments Systems Expert at DataArt, goes back to the beginnings of the cashless payments, and shares his expertise with Vanilla +.
From the Age of Discovery to check books and mobile payments, he traces the reasons for and explains the mechanisms of each historical development, concluding "Banks were quite happy with the existing cashless payments infrastructure, but there are other players that want to get their own market share here. Google Wallet, Android Pay – everyone was getting in on the act. And then there was Apple Pay. Easy. Simple. Safe. But there is one thing we all know: as you read this, someone is hard at work wondering how to defraud people the Apple Pay way."
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