Question

In the first couple of decades of the 20th century, most people
A. lived on Social Security.
B. paid cash for purchases.
C. had plenty of retirement savings.
D. had lots of options for financial services.

Answer 1

Answer:

B. paid cash for purchases.

Explanation:

Purchases were made in cash because of the lack of technologies applied to the financial and banking role.

If we refer to the oldest ‘, the first credit card issued in Europe was introduced by the Barclays entity in the United Kingdom in 1966, inspired by the card that Bank America had already launched in the US a few years before. However, debit cards were not implemented until 1987, and if we think of pin or chip cards we have to move to 2002 to speak with ownership of the first.

Despite its late arrival, let's think that more than 300 years passed from the use of money as a payment method until the arrival of the bank card, it is currently the leading payment method in terms of value.