Economic Naturalist Project - The Replacement of Paper-Based Methods of Payment by Credit.
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Economic Naturalist Project The Replacement of Paper-Based Methods of Payment by Credit Cards Phenomenon: Nowadays, when we go shopping (to Safeway or Fred Meyer, for instance) we no longer have to look for a quarter in our wallets or to ask someone for a pen to sign a check (although we could do that, too) in order for us to pay for the goods we buy. We now have credit cards, which make our lives much easier. The number of transactions made by credit cards has exploded in the recent years and their widespread use and practicality started replacing the use of paper-based forms of payment such as checks and bills. However, in spite of rapid technological progresses, this increase did not occur over night. At first, during the 1970s the market for Visa cards grew rather slowly, while during the late 1980s and 1990s it has technically exploded. This somewhat shy...

