The Origins of the Cashless Society: Cash Dispensers, Direct to Account Payments and the Development of On-Line Real-Time Networks, c. 1965-1985

Bátiz-Lazo, Bernardo, Karlsson, Tobias and Thodenius, Björn (2014) The Origins of the Cashless Society: Cash Dispensers, Direct to Account Payments and the Development of On-Line Real-Time Networks, c. 1965-1985. Essays in Economic & Business History, 32 (1). pp. 100-137. ISSN 0896-226X

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Abstract

This article explores the technological choices made at the dawn of the massification of retail finance. We describe and analyze the early development of electronic banking and the foundations of the cashless society through the experiences of organizations with similar governance in two different competitive environments — Swedish and British savings banks. We document how the adoption of direct-to-account wage deposits and the subsequent deployment of networks of cash dispensers interacted with the adoption of on-line real-time (OLRT) computing, and distinguish on- line and OLRT communication as distinct stages in the evolution of computer networks. We emphasize the role of middle managers in the selection of alternative technologies and show how delivering a cashless society proved more difficult than anticipated.

Item Type: Article
Subjects: N100 Business studies
N300 Finance
N400 Accounting
Department: Faculties > Business and Law > Newcastle Business School
Depositing User: Elena Carlaw
Date Deposited: 10 Aug 2020 13:54
Last Modified: 10 Aug 2020 14:00
URI: http://nrl.northumbria.ac.uk/id/eprint/44034

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