From cash to gigabytes: The European evolution in payment technology from a merchant perspective

Gert Huizinga
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Gert Huizinga: Senior Consultant in Electronic Payments, The Netherlands

Journal of Payments Strategy & Systems, 2025, vol. 19, issue 1, 85-93

Abstract: It has been about 40 years since PIN-based card payments first appeared in Europe, marking the start of a major shift in how transactions are handled. Since then, we have moved to more advanced systems, like contactless and mobile-initiated payments. Each step in this journey has not simply changed the way that customers pay, but also how merchants interact with payment technologies, bringing with it a fresh set of challenges and opportunities for merchants. As merchants have adapted to these technologies, they have learned valuable lessons, particularly as regards customer experience, transaction security and payment processing speed. This paper explores these milestones in the history of payments from the merchant’s perspective. The paper will highlight the key takeaways from each stage of the evolution and how merchants responded to changes in consumer behaviour and technological advancements. Finally, the paper will offer a preview of innovations in the payment landscape that are set to impact merchants in the years ahead.

Keywords: merchant payment history; PIN-based payments; contactless transactions; payment technologies; mobile payments (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2025
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