Modern-day life gives us a whole lot to choose from. There is so much that we are able to select from. There is a large variety of consumer electronics and a whole range of products from the various companies. If you are thinking of eating you, you can choose from among the top-end restaurants that give you a great ambience and leave you with an enormous bill. If you want to eat out and not spend too much, there are loads of fast food and multi-cuisine restaurants that will appeal to your taste buds.

Then, with regards to the matter of clothes, you can decide whether you want to buy clothes from non-descript stores or go in for a branded outfit. We are being bombarded by all kinds of options. It all depends on what you are going to buy.

Of course, if you are buying something, you must think about how you will pay it. There are many ways in which we can settle bills nowadays. Perhaps, we as consumers are really a pampered lot. Go to a salesperson at any supermarket and be prepared for the question: "How do you wish to pay sir? By cash or by card?"

In the old days the only acceptable mode of payment was that of cash. Every store owner preferred this mode of payment primarily because of its tangibility. When you were paying in cash, the seller was immediately paid for his wares. He did not have to worry about when the payment would come through.

Before credit cards gained in popularity, check payment was the preferred mode of payment when it came to larger sums of money. However, there were some negatives in this kind of payment. The seller would have to wait till the check cleared. And back in the days before banks were fully computerized, this was quite a slow process. Moreover, you could never be certain that the check was an honest one. After all, not all buyers were honest blokes.

The emergence of credit card companies has made life much easier for both buyer and seller. Here were pieces of plastic that were worth a whole lot of money. All that the buyer had to do was get it swiped by the seller to pay for his purchases. As for the seller, he was assured that the credit card company would pay him the money that was owed to him. Of course, paper money is still preferred over credit cards. However, credit cards are slowly influencing people to regard them as the preferred mode of payment.