A crash course in changing the world.
More and more money is used digitally and not physically. A lot of the money today only exists in digital form at all.
Whenever possible I use my “EC-Karte”. It is a service of German banks provided for their customers. With you, pin or your signature and you bank card you can pay in most stores, restaurants and at many other places where you can buy something. The thinks you buy will be directly paid from your account.
There are many systems on the rise, that let you pay with your mobile phone, something most people always carry around. In combination with “Near Field Communication” or “NFC” all you have to do is place your phone somewhere and your bill will be paid with your phone. Currently there are a lot of companies fighting for customer and retailer acceptance including software companies, telecommunication companies, online micro payment services and even some large retailers itself. However, as of now no one was able take a leading position.
Another digital payment system are smartcards. These are plastic cards which have a stored amount of money on them. There are cards that are given with a fixed amount of money or those you can charge with money. These are already used in restaurants from companies or universities and often combined with other identification cards. To prevent the risk of losing the cards and the money they sometimes comes personalized so that only a specific person can use them.