1. A Plastic World
... 1200's the Chinese were using paper money. These notes could be traded in for gold or silver. In the 1970 with the ability to transfer fund electronically, Credit Card systems were born. The word Credit comes from Credo, which mean I promise. The card enables the purchase to pay the merchant or service provider at a later time. This decreased the need for paper ... ;all at a much lower cost that had been known previously."" Still using our parallel of spending without using paper, we must examine the banking process with regards to credit cards. A bank issues a credit card such as Visa o...
- Word Count: 1004
- Approx Pages: 4
- Has Bibliography
- Grade Level: High School