Which of the following is considered one of the world's oldest forms of payment?

Which of the following is considered one of the world's oldest forms of payment?

• A. Cash
• B. Credit Card
• C. Check
• D. Digital Wallet

Answer: (C)

The option identified relates to checks, which are indeed one of the oldest forms of payment still in use today. The origins of checks can be traced back to ancient times when merchants in various cultures would use similar instruments to facilitate trade without the immediate exchange of physical currency. Checks functioned as a written order directing a bank to pay a specific amount from the payer's account to a designated payee. This method of payment gained considerable popularity, especially in medieval Europe, as it facilitated trade and commerce. In contrast, cash has its roots in ancient coins and has been used extensively throughout history, but it is not as ancient as the concept of checks in terms of formalized written payment methods. Credit cards emerged in the 20th century, representing a significant evolution in payment systems, while digital wallets are a modern innovation that relies on technology to facilitate transactions. Thus, checks represent an enduring payment method that links back to some of the earliest practices of credit and trust in financial transactions.

The option identified relates to checks, which are indeed one of the oldest forms of payment still in use today. The origins of checks can be traced back to ancient times when merchants in various cultures would use similar instruments to facilitate trade without the immediate exchange of physical currency.

Checks functioned as a written order directing a bank to pay a specific amount from the payer's account to a designated payee. This method of payment gained considerable popularity, especially in medieval Europe, as it facilitated trade and commerce.

In contrast, cash has its roots in ancient coins and has been used extensively throughout history, but it is not as ancient as the concept of checks in terms of formalized written payment methods. Credit cards emerged in the 20th century, representing a significant evolution in payment systems, while digital wallets are a modern innovation that relies on technology to facilitate transactions. Thus, checks represent an enduring payment method that links back to some of the earliest practices of credit and trust in financial transactions.