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With central banks lacking foreign exchange, diamond traders were one means of transferring payments.
Some people simply prefer to leave some money in their online accounts, transferring payments back and forth like so much Monopoly money.
While senior officials at HMRC are confident that they will deliver RTI on schedule, they are being cautious over one big feature: one element of the programme involves moving away from reporting through the Electronic Data Interchange and Government Gateway to using Bacs, the banks' channel for transferring payments.
"We've been spending a lot of time transferring payments and vetting developers, so we realized this is a huge opportunity to realize our vision faster," Liu says.
AMT also provides a convenient API for transferring payments from requesters to workers.
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This will open the methods for transferring payment.
It has unilaterally withheld transfer payments to the provinces.
The government has recovered an extra £4bn by tackling transfer payments, he says.
Canada's health industry operates on a system of transfer payments.
Transfer payments to the poor and the social safety net are robust.
But the trend is the same even with transfer payments eliminated from the calculation.
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