Bucks, clams, dough — I’m not talking about food; I’m talking about money! No matter what you call it, currency has changed the way we live. Currency gives us a standard unit with which we may denote value on goods and services — without money, pre-currency trades were often one-sided; money resolves this by ensuring that everything has a value equated to its availability, cost to manufacture, and labor involved. Although you already know this simply by virtue of using money, modern people we can’t help but get excited about money — this goes to show the depths of its influence on the very ways we developed as a society. As more business sprout up and as more consumers receive more ways to pay, it may be helpful to get up to speed on three of the most common ways to pay in today’s age.
The first cheques were an innovation of the Muslim-ruled Kingdom of Granada during a time in history when Spain was invaded and ruled by Muslim forces following the backlash of the crusades. Rather than carry their currency with them, Muslim travelers deposited their finances in one bank at home which gave them a cheque. The cheque was a written vow that goods would be repaid upon delivery. Although the principal has stayed the same, modern cheque scanners allow businesses to instantly scan and deposit checks throughout the day.
Plastic has become one of the most popular ways to spend money, especially since the introduction of ecommerce. Unfortunately, plastic is also one of the easiest ways to steal money; this pressures credit and debit card manufacturers to come up with newer safety features to protect users from ever-evolving methods to steal consumer information.
Cash Management Solutions
Oddly, the most direct form of currency can prove to be the most bothersome for many business owners. Although counterfeiting was once a huge issue in the 19th century, modern counterfeit prevention including watermarks and counterfeit pens help deter the crime. The biggest issue is counting coins and notes by hand, as this takes time and typically necessities two or three recounting to counter human error. Currency counter machines are some of the most effective cash management solutions for businesses, as they save time and eliminate human error. For those businesses looking for effective cash management solutions, cash counting machines offer one of the best answers to a business’ money problems — two words that should never be used next to one another. Find out more here.