Standardizing Retail Payment Instruments

  title={Standardizing Retail Payment Instruments},
  author={Simon L. Lelieveldt and Dor Bank},
The business of payments and the provision of payment instruments have a rich history, which can be drawn upon in a discussion of standardization. In the middle-ages, for example, the mere existence of a wide variety of foreign and local coins led to a flourishing business of money exchange offices and cashiers in the Netherlands. Malpractices of some of these firms, mostly in the form of physical tampering with coins and alloy, resulted in government regulation on a municipal and province… CONTINUE READING

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