1. Read this paragraph from Passage 1.
The custom of electronic payments began in 1860 when Western Union used the telegram for electronic fund transfer. In 1946, John Biggins, who worked for the Flatbush National Bank in Brooklyn, New York, tried an experiment. His bank issued cards, which customers then used to make purchases. The bank paid stores for the purchases and collected debts from card holders. Biggins’ “Charg-It” became the first credit card.
Why did the author include this paragraph?
Ato show the impact of transferring money
Bto describe the history of using coins to barter
Cto introduce the idea of using virtual money
Dto infer that virtual money has never been secure