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 tie in to the merchant price reduction charged by individual acquirers A equal fee minify the transaction hails of negotiating separate turn over on fees between acquirers and issuers and eliminated the difficulties that issuers faced in monitoring in the merchant discount coterie 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 learning ability frauds that many banks face . Fraud card detectors open 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 o r users of the cards because they have been wrapped from the risk of physical theft of funds . level(p) though there are fraudsters , the users are not opened to so much risk of theft . Card users faeces in effect purchase things online heedless of the distance because each transactions are done to the and at a very high make haste .

The losers are the merchants or lodge providing this services because the have to line up all the expenses of place setting up this technology and infrastructure . in conclusion they baffle the problem of making all transactions mathematical regardless the distance and part ies involved . The merchants incur all this ! cost and expenses in this cashless society (Buiter , 2005ReferenceBuiter , W (2005 : New developments in fiscal political economy : Economic journal , Vol . 115Thorndal , J (1994 : Prepaid cards and financial Review : - Danmarks PublishersKrueger , M (1999 : Towards a Moneyless being : Dept of economics and finance : University ofDurham PressPrinz , A (1999 : Money in the sure and virtual(prenominal) World : Netnomics journalWallace , N (1983 : A suggestion for oversimplifying the possibility of money Economic journal...If you want to get a encompassing essay, distinguish it on our website: BestEssayCheap.com

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