International means of payment, conventional to digital

Abstract

Cash is currently the most widely used means of payment; However, in the last 30 years, with the help of the development of Information and Communication Technologies, changes have been generated towards the increase in the use of digital means of payment. Throughout history, innovation in payment methods has led to the disuse of conventional means, thus giving way to simple, flexible and secure means of processing transactions. Situations such as the pandemic have led to an increase in the use of digital media; Some of the consequent challenges focus on more effective measures that allow controlling tax evasion and the laundering of illicit resources. Being the integration of the means of payment a pending task. The objective of this research is to collect information on the transition of payment methods in Mexico and the world, to finally carry out an analysis of the transformation that payment systems have suffered throughout history. It is found that the use of cash has been decreasing along with the increase in digital means of payment, one of the challenges being the regulation of operations that do not conform to the conventional financial system, such as cryptocurrencies.