The United States $100,000 bill is the highest value banknote ever produced by the United States. It was never Legal Tender and was only used in transactions between banks. americanhistory.si.edu/co…
The first thing that was ever bought and sold over the internet was weed. In 1971 or 1972, Stanford students using Arpanet accounts at Stanford's AI Laboratory engaged in a commercial transaction with their counterparts at MIT, and thus the first act of e-commerce was a pot deal. fastcompany.com/3054025/y…
The Micronesian island of Yap is known for its stone money, known as Rai. They use large doughnut-shaped, carved disks of calcite, some as large as 13 ft in diameter. The Rai is still used today for social transactions, including marrage, political deals, etc. bbc.com/travel/story/2018…
Monkeys show signs of both risk aversion and loss aversion, and can be taught to use currency - in experiments with statistically identical outcomes, monkeys performed like humans in preferring to avoid risky transactions, and by putting more weight on losses than on gains bbc.com/worklife/article/…
Tally sticks were used for hundreds of years to record financial transactions. When workmen were ordered to dispose of old sticks they accidentally burned down the Palace of Westminster. en.wikipedia.org/wiki/Bur…
Canada has a 50 cent coin denomination that is still minted and in regular circulation, but incredibly rare to see in transactions en.wikipedia.org/wiki/50-…
Don Johnson β€’ In 2002 German customs officers at the Swiss–German border performed a routine search of his car. Bank statements worth $8 BILLION in transactions were found in the trunk. en.wikipedia.org/wiki/Don…
The last Blockbuster on earth, in Bend, OR uses floppy disks to boot their system, employees have to hand print cards because their printers broke, and transactions are backed up on a reel-to-reel tape that can't be replaced because Radio Shack went out of business. wfaa.com/article/news/las…
The trick from "Office Space" where they stole tiny fractions of a cent from a large number of transactions and put it into their own bank accounts is called 'salami slicing' en.wikipedia.org/wiki/Sal…
In Ancient Rome, the working class would evacuate entire cities in acts of revolt called "Secessions of the Plebeians." After leaving the elite to fend for themselves, commercial transactions would stop, and workshops would have to close. wikipedia.org/wiki/Secess…
If you're having trouble at a Japanese Rail Ticket Machine, a secret hatch will pop open next to the machine and a helper will pop out of it to manually finish the transaction for you. soranews24.com/2013/03/08…
Sweden leads the world in going cashless. Less than 15% of all monetary transactions in that country use cash. nayax.com/first-cashless-…
The UK used to have a halfpenny coin. It was ignored in banking transactions, which were carried out in units of 1p and soon became Britain's least favourite coin en.wikipedia.org/wiki/Hal…
A team of students were awarded a patent for designing a technology to monitor email money transfers as part of an immersive, four-month long hackathon. For most banks, the systems used to monitor e-transactions aren’t moving as quickly as machine learning, a subfield of artificial intelligence utoronto.ca/news/u-t-stud…
Some police departments in the U.S. are starting to create Internet Purchase Exchange Locations so that Craigslist or similar transactions can be conducted in an area with video surveillance and police presence and keep participating parties safe. the-dispatch.com/news/201…
The largest bill ever printed in US currency was $100,000 between 1934 and 1935, featuring Woodrow Wilson and used for large federal reserve transactions. infoplease.com/askeds/hig…
Today I learned of the stone money of the Yap. The stones are too large to move so buying an item involves agreeing that the ownership has changed. The transaction is recorded in oral history and no physical movement of the stone is required. en.wikipedia.org/wiki/Rai…
The Micronesian island of Yap uses some 6000 stones (ranging in size of a few cm to 4m) as a currency. As these Rai stones are too heavy to be physically moved, transactions involve an acknowledgement of ownership change, and an oral history past owners must be passed on to the new owner. bbc.com/travel/story/2018…
Debit cards were responsible for nearly 70 billion transactions in 2017, with a value of over 2.56 trillion dollars. creditcards.com/credit-ca…
Today I learned of flooz.com, a dot-com company that introduced an Internet currency similar to frequent flier programs. But because you could purchase points directly it was perfect for money laundering and fraudulent purchases accounted for 19% of transactions before it collapsed. en.wikipedia.org/wiki/Flo…
In the first "real-world transaction with bitcoin" a programmer paid 10,000 bitcoins for 2 large Papa John's pizzas. 4 years later, those bitcoins were worth 5.12 million dollars. coindesk.com/bitcoin-pizz…
The first online transaction was weed bought by Stanford students from MIT students in 1971 or 1972. The deal occurred over the ARPANET, a precursor to the modern internet which was meant for students to use to communicate with other universities. smithsonianmag.com/smart-…
95% of all current ATM transactions run on systems using a computer language developed in the 1960s fedtechmagazine.com/artic…
Today I learned of the Bank Secrecy Act signed in 1970 by President Nixon which requires all US banks to report transactions more than $10,000 en.wikipedia.org/wiki/Ban…
In 2006 casino mogul Steve Wynn was set to conduct the largest art transaction in history by selling Picasso's Le RΓͺve for $139 million. The day before the transaction was set to take place Wynn accidentally stuck his elbow through the painting. en.wikipedia.org/wiki/Le_…
In 1953, Coca-Cola asked the US to create a 7.5 cent coin b/c vending machines could only take one coin transactions and a 10 cent soda would be too expensive en.wikipedia.org/wiki/Fix…
In 2012 Danish reseller Torben NΓΈdskouv paid $20,000 to legally purchase Cuban cigars from a German distributor. The bank transaction was automatically routed through the US and confiscated for violating the US trade embargo with Cuba cphpost.dk/news/internati…
The most efficient four-coin set of coin denominations is 1, 3, 11, and 37 cent pieces, with an average of 4.10 coins per transaction. The typical 1, 5, 10, 25 cent set averages 4.70 coins per transaction. freakonomics.com/2009/10/…
The energy cost of performing one bitcoin transaction is 298 kilowatt hours: the equivalent of powering nearly 10 houses for an entire day, or gaming on an Xbox 360 for almost 2000 hours. digiconomist.net/bitcoin-…
The Deskmate is a computer marketed specifically for the Amish and Mennonite communities to help carry out business transactions. It's selling points are no Internet, no music, and no videos. npr.org/sections/money/20…
The United States Treasury used to print 5 denominations of money larger than $100. They were used mostly as government transactions, and were all discontinued in 1969. It is illegal to be in posession of a $100,000 bill, a Gold Certificate, due to Executive Order 6102. en.wikipedia.org/wiki/Lar…
When balancing customer accounts each day, many banks subtract debits in order of largest to smallest dollar amount rather than in the order the transactions occurred to increase the number of overdraft fees the banks charge. responsiblelending.org/ov…
The first e-commerce transaction was for a Sting album nytimes.com/1994/08/12/bu…
The first recipient of a bitcoin transaction is using his amassed fortune from the cryptocurrency to fund the cryogenic preservation of his body. He died in 2014 from ALS wired.com/2014/08/hal-fin…
The first e-commerce transaction was in the 70's for cannabis between students from MIT and Stanford en.wikipedia.org/wiki/E-c…
Many police stations and law enforcement agencies are SafeTrade stations: Safe exchange locations for meetup, pickup or drop off points to reduce Craigslist crime and other online transactions for those meeting in person. safetradestations.com/
Every bitcoin transaction, no matter how small, uses at least enough electricity to power an average home for an entire day. motherboard.vice.com/en_u…
A number of transaction on Pawn Stars are staged. Has suspicions but now I know. centraltendencies.com/201…
Bitcoin consumes about 26kw/h per transaction compared to about 29kw/h per day for an average american home. securitygladiators.com/bi…
Over 10% of all crypto transactions are fraudulent reuters.com/article/us-ic…
Bill Gates supports a financial transactions/Robin Hood tax guardian.co.uk/business/2…
In 1949, Montreal and Toronto experienced large spikes in the use of $2 banknotes for financial transactions. As the spike subsided over two weeks, another one appeared in Ottawa. The Bank of Canada could provide no explanation en.wikipedia.org/wiki/193…
US Patent 5878155 was submitted by IBM and it presents a mechanism to tattoo people with a bar code to provide identity for sales transactions and bank account transactions. patft.uspto.gov/netacgi/n…
The way you pay for something affects how you perceive the transaction. Using cash "hurts" more because the loss of money is perceived to be more immediate, while using a credit/debit card decouples the purchase from the loss of money. psychologytoday.com/blog/…
The first major bitcoin transaction was made by man buying 2 pizzas for around 10,000BTC which would have been equal to $12,000,000 in November 2013. en.wikipedia.org/wiki/His…
The trick from "Office Space" and "Superman III" of stealing tiny fractions of a cent from a large number of transactions to stealthily accumulate a stolen fortune has a name: salami slicing en.wikipedia.org/wiki/Sal…
Credit cards with chips take longer to process because they're equipped with a technology that generates a different encrypted card verification code for each transaction. Cards with only the magnetic strip use the same code every time, making them more susceptible to counterfeiting. blog.credit.com/2016/01/w…
Banks can 're-order' your transactions from greatest to least amount in order to get the maximum number of overdraft fees when you overdraw responsiblelending.org/ov…
George Washington was "obsessive" and "aggressive" about acquiring land; doing so made him America's wealthiest man. When another complained about a transaction, Washington replied denouncing his "stupidity and sottishness". lehrmaninstitute.org/hist…
Smurfing refers to how bankers and drug dealers split up a single transaction above the legal limit into smaller parts to evade the authorities. en.wikipedia.org/wiki/Str…
The largest bitcoin transaction was made back in 2013 with value of $147Mil , today's market value is $174Mil representing 1.6% of all bitcoins now in circulation, and the transaction was tagged "Shit Load of Money!" coindesk.com/194993-btc-t…
Savings Accounts in the U.S. can only have 6 transactions per month according to Federal Law. Anything beyond that, the account holder gets penalized or may be even forced to close the account en.wikipedia.org/wiki/Reg…
Once Truman left the presidency, his only income was his old army pension - $112.56 per month. "I could never lend myself to any transaction, however respectable, that would commercialize on the prestige and dignity of the office of the presidency." nytimes.com/2007/03/02/op…
COBOL, a programming language first introduced in 1959, still processes 90% of the planet’s financial transactions, and 75% of all business data computerworld.com/article…
When the Walt Disney Corporation bought Pixar Animation Studios for $7.4bn in 2006, the transaction inadvertently made Steve Jobs Disney's largest shareholder. wikipedia.org/wiki/Pixar
The chip on our credit/debit cards makes transactions more secure by re-writing the code within the chips circuit. Unlike the mag strip which has a code that cannot change, which allows Skimming. en.wikipedia.org/wiki/EMV
The Italian bureau of statistics included estimates of illegal transactions (e.g. prostitution and drugs) to meet EU economy goals en.wikipedia.org/wiki/Nat…
Genesis Mining sent a Bitcoin into the stratosphere and made what they claim is the first Bitcoin transaction in outer space. youtube.com/watch?v=VnSYV…
The first e-commerce transaction to take place on the Internet was the sale of cannabis theguardian.com/science/2…
In May 2010, one of the earliest documented bitcoin transactions involved a user offering 10,000 BTCs (equivalent to 40$ at the time) in exchange for 2 pizzas delivered to his house. By May 2011, these BTCs became worth 76,000$. Today, that Pizza transaction is equivalent to 2 Million $. bitcoinmoney.com/post/310…
The AOL-Time Warner merger is regarded as "the worst transaction in history." en.wikipedia.org/wiki/Dot…
The Vatican Bank is the world's only bank that allows ATM users to perform transactions in Latin. etymax.com/en/blog/how-us…
You may use a medical marijuana card as identification/proof of residency in a firearms transaction, but doing so classifies you as a "user or addict of an unlawful substance," and you are then prohibited from buying a firearm. rmgo.org/images/stories/m…
Mathew Martoma, who generated possibly the largest single insider trading transaction profit in history, has a degree in ethics from Duke University en.wikipedia.org/wiki/Mat…
Barter transactions, even if equal in value, are taxable in the United States as income. en.wikipedia.org/wiki/Bar…
In 2000, Iraq converted all its oil transactions under the Oil for Food program to euros. When the U.S. invaded Iraq in 2003, it returned oil sales from the euro to the USD. en.wikipedia.org/wiki/Pet…
Stores pay the bank more or less per credit card transaction based on whether or not they require your signature danielmiessler.com/blog/w…
In California and other states it's illegal for a retailer to ask for a phone number when a credit card transaction is involved. m.bakermckenzie.com/rrope…
Mark Cuban still holds the Guinness World Record for biggest single e-commerce transaction, a personal jet purchased for $40 million in 1999. guinnessworldrecords.com/…
Retailers in Canada can legally refuse over $0.25 in pennies in a single transaction. en.wikipedia.org/wiki/Leg…
There are limits in the UK on how many coins you can use in a transaction royalmint.com/aboutus/pol…
The federally mandated criminal background check system 'NICS' has only denied 0.70% of all processed firearms transactions since 1998. fbi.gov/about-us/cjis/nic…
The 14 character limit on bank transaction description field in Australian online banking was due to some limit related to ancient punch card systems theage.com.au/business/ba…
In 2007 Jospeh Cassano, former head of financial products for AIG, while discussing credit default swaps said; "It is hard for us, and without being flippant, to even see a scenario within any realm of reason that would see us losing $1 in any of those transactions." en.wikipedia.org/wiki/Jos…
Merchants are not allowed to impose minimum charge requirements on transactions paid with a credit card

Information

Backstory:

Yesterday I was out with the girlfriend, ordered a few drinks. We were short on cash, so we decided to pay with a credit card... after taking a sip, our bartender informed us of their $20 minimum! This didn't make me too happy since I usually only have 1 drink. At the end of the night, we were up to $14, and I was going to just use the tip to make the total above $20, but they refused to give my card back unless my order was over $20.

I've seen a few places charge $5 or $10 minimums for credit card transactions, but $20 was outrageous. I felt extorted, so when I arrived home, I decided to do some research, and quickly discovered that every major credit card's terms of service (for merchants) is that they cannot charge minimums, maximums, or transaction fees.

In 1971, the UK and Ireland changed their currency into decimal form, to make transactions easier to handle and process. wikipedia.org/wiki/Decima…
The first credit card transaction happened in 1950 businessweek.com/features…
The average USAmerican has $4,236 in credit card transactions per year - the average German $158 foxbusiness.com/personal-…
The US government once issued $100,000 bills, used only for official transactions between branches businessinsider.com/the-h…
The first bitcoin transaction was for 2 pizzas. The buyer paid 10,000 BTC (today's price $2.34 million USD). en.wikipedia.org/wiki/His…
The DTCC, a company that "settled the vast majority of securities transactions in the United States and close to $1.7 quadrillion in value worldwide" was involved in a Wikipedia edit war to cover up lies about Naked Short Selling marketrap.com/article/vie…
Some communities in Japan use informal local currencies to pay for goods and services instead of the national yen, including "peanuts" in Chiba that require parties to shake hands and yell "amigo" during transactions. articles.latimes.com/2002…
A proposed $300 million transatlantic cable is being built just to shave 0.006 seconds off transaction times between New York City and London wired.com/wiredscience/20…
In May 1984, in Gateshead, England, the world's first recorded online home shopper, Mrs Jane Snowball, purchased groceries from her local Tesco store in the world's first recorded online shopping transaction from the home. en.wikipedia.org/wiki/Tes…
A web transaction can be secure (encrypted) even though the URL says "http://" and not "https://"

I set out to pay a fee to pandora.com (highly recommended, BTW, and available for free to people who don't use it a huge amount). The page where I was to enter my credit card number showed a URL that started with "http://". So I sent them a note and asked. They replied:

"The tuner embedded in the site is a Flash application is 'https' secure. . .

Our site has been approved in its current form by FDC (parent company of Linkpoint) on behalf of Visa/Mastercard/Discover) and also separately by American Express. Amex is particularly picky about security, by the way.

I understand that a mixed mode page can be confusing to some users. The technique has become much more common as active content sites have proliferated. By all means, the hyper-cautious are welcome to add an "s" to the url before proceeding."

There is an online black market that has made an estimated $15 million in transactions en.wikipedia.org/wiki/Sil…
In January 2009, Hal Finney was the Bitcoin network's first transaction recipient. washingtonpost.com/blogs/…
All bitcoin transactions are public (here is a live map) bitcointicker.co/transact…
In the 1980s, US military bases overseas abolished the penny, and began rounding transactions to the nearest five cents. history.com/news/10-thing…
The first ever scientific journal, "Philosophical Transactions", has been publishing continuously since the year 1665 β€” 350 years. youtube.com/watch?v=QE0DC…
The Vatican Bank is the world’s only bank that allows ATM users to perform transactions in Latin. kottke.org/12/04/vatican-…
The first derivative transaction occurred 2500 years ago, when a philosopher bought up the rights to use olive presses for a future olive harvest. This would make it a "second order" derivative, since it was a call on something secondary to the underlying commodity; in this case olives. cato.org/pubs/pas/pa-283.…
In 2010 the first bitcoin transaction was for pizza that costs 10,000 BTC. en.bitcoin.it/wiki/Histor…
A British innovator invented online shopping by connecting a modified domestic TV to a real-time transaction processing computer via a domestic telephone line, a decade before the invention of the World Wide Web en.wikipedia.org/wiki/Mic…
In 1934, Woodrow Wilson dollar bills worth $100,000 were printed for transactions among federal banks. en.wikipedia.org/wiki/Woo…
South Korea was forced to use ActiveX and IE for all their secure transactions until just this July h-online.com/open/feature…
$500, $1,000, $5,000, and $10,000 bills were printed throughout US history for general use and only a couple $100,000 bills have been printed for special internal Federal reserve transactions. federalreserve.gov/faqs/c…

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