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From cash to gigabytes: The European evolution in payment technology from a merchant perspective
Journal of Payments Strategy & Systems,
19
(1),
85-93
(2025)
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
The full article is available to subscribers to the journal.
Author's Biography
Gert Huizinga has more than 40 years of experience in the payments industry, bridging business and technology in the evolving landscape of payment technologies and regulations. He has worked for TNO (now Brightsight), BankGiroCentrale/Interpay (now equensWorldline) and ING. He has been a member of the PCI Board of Advisors for over 12 years, a member of the Acquiris (CTAP-management) Board for four years and a member of the European Cards Stakeholders Group (now EPSG) for more than ten years. He has also been a longstanding member of such working groups as the European Payments Council Cards Working Group, NL Interbank WG Cards and NL Interbank Security Committee. Gert retired in 2023, but still follows the developments in payments from a distance.
