From conch shells and stones to virtual cards and mobile payments, the payments landscape has been evolving for millennia.
This infographic highlights the important dates in payments history, from the dawn of paper money in 1861 to the introduction of the credit card nearly a century later to the rise of checking and much, much more.
Key dates covered include:
1861: To combat coin hoarding, the US government first created paper currency bills during the Civil War.
1951: The first credit card was produced by American Express
1952: Over 47 million checking accounts exist in the US, with 8 billion checks written.
1969: The first Automated Teller Machine, or ATM opens
1979: 86% of non-cash payments were completed by check, and 33 billion checks were written each year.
1990: Debit cards used in about 300 million transactions
1995: Payments by check peak at 49.5 billion
1997: Coca-Cola introduces precursor to mobile payments
2000: Checks used in 40 billion transactions
2003: Electronic payments surpass checks
2009: Prepaid and Debit Cards used in 37.6 billion transactions
2012: Less than half of American bills paid with cash.
2013: 80% of transactions cashless