Many options are available to the citizens of today's world. There is so much that we can choose from. There is a large variety of consumer electronics and a whole range of products from the various companies. If you feel like going out for breakfast, you can choose from among the top-end restaurants that give you a great ambience and land you with a hefty bill. If you want to eat out and not spend too much, there are loads of fast food and multi-cuisine restaurants that would match up to your required standards. Then, when it comes to clothes, you can decide whether you want to buy clothes from non-descript stores or go in for a branded outfit. There really are hundreds of possible choices. It all depends on what you are going to buy.
Of course, if you are buying something, you have to decide on a mode of payment. There are many ways in which we can settle bills nowadays. Perhaps, we as consumers are glad that we have so many options. Go to a salesperson at any supermarket and be prepared for the question: "How do you wish to pay sir? By cash or by card?" There used to be a time when the only acceptable mode of payment was that of cash. Every store owner preferred this mode of payment primarily because of its tangibility. When you were paying in cash, the seller received payment for his goods immediately. He did not have to worry about whether his payment would get cleared.
Before credit cards came into vogue, check payment was the preferred mode of payment when it came to larger sums of money. However, this did have some negatives involved. The seller would have to wait till the check cleared. And back in the days before banks were fully computerized, this delays were inevitable in this mode of payment. Moreover, you could never be sure that the check would not bounce. After all, not all buyers were honest blokes.
The emergence of credit card companies made business much easier for both buyer and seller. Here were pieces of plastic that carried a great deal of value. All that the buyer had to do was get it swiped by the seller to pay for his purchases. As for the seller, he was assured that the credit card company would pay him the money that was owed to him. Of course, tangible money still scores over credit cards. However, as things are going, credit cards will soon take over from paper money.
