History Of Money

Interchange fees arose from the structure of the Visa and MasterCard networks . Visa adopted a fixed change over fee which was not joined to the merchant brush aside charged by individual acquirers A equal fee cut down the transaction hails of negotiating separate tack on fees between acquirers and issuers and eliminated the difficulties that issuers faced in monitoring in the merchant discount stack by the acquirers . Visa and MasterCard reduced the interchange fees charged to supermarkets hence reducing the merchant discount . well-nigh regulations were also imposed on regulating billhook frauds that many banks face . Fraud card detectors sacrifice been apparatus and laws brass the enactment of the card fraud have been set to retaliate those fraudstersThe winners of the cashless society be the consumers or users of t he cards because they have been wrapped from the risk of physical theft of funds . raze though there are fraudsters , the users are not expose to so much risk of theft . Card users contribute in effect purchase things online careless(predicate) of the distance because all(prenominal) transactions are done to the and at a very(prenominal) high make haste .

The losers are the merchants or beau monde providing this services because the have to line up all the expenses of displace up this technology and infrastructure . in conclusion they mystify the problem of making all transactions mathematical regardle ss the distance and parties involved . The m! erchants incur all this cost and expenses in this cashless society (Buiter , 2005ReferenceBuiter , W (2005 : New developments in fiscal economics : Economic journal , Vol . 115Thorndal , J (1994 : Prepaid cards and fiscal Review : - Danmarks PublishersKrueger , M (1999 : Towards a Moneyless being : Dept of economic science and finance : University ofDurham PressPrinz , A (1999 : Money in the sure and realistic World : Netnomics journalWallace , N (1983 : A suggestion for oversimplifying the possibility of money Economic journal...If you want to get a encompassing essay, swan it on our website: BestEssayCheap.com

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