History of Payment Processors
In the 16th century, paper currency became a way to trade commodity resources, like tobacco leaves stored in a warehouse. A producer would deposit his crop with the depot, and the depot-keeper would give a bearer-demand note to the depositor which he could trade on the open market for other goods and services.
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Famous quotes containing the words history of, history, payment and/or processors:
“... that there is no other way,
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“The payment of debts is necessary for social order. The non-payment is quite equally necessary for social order. For centuries humanity has oscillated, serenely unaware, between these two contradictory necessities.”
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“The information links are like nerves that pervade and help to animate the human organism. The sensors and monitors are analogous to the human senses that put us in touch with the world. Data bases correspond to memory; the information processors perform the function of human reasoning and comprehension. Once the postmodern infrastructure is reasonably integrated, it will greatly exceed human intelligence in reach, acuity, capacity, and precision.”
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