When Michael Aldrich called the shots for introducing a technology which allowed consumers to make direct purchases over the phone and electronic medium in 1979, little did da man know that it would soon become a trial balloon for something – something big enough to transform the way money walks.
Tap into the future, Digital Payment Industry sprouted in the 1990s and put under lock and key the dominating and alive, cash- the undisputed king. This technology powered innovation among the payments space hosted a change in the way the world paid for its spends. Post-haste, the first milestone got embarked with the establishment of Stanford Federal Credit Union in 1994 as the first institution to offer online banking services to all its customers. An uphill climb at the initial stage, the online payment system was not user-friendly; it required specialized knowledge of data transfer protocol.
