What does PIN stand for?
AnswerPersonal Identification Number
A PIN is a secret number used to confirm your identity, for example at a cash machine.
Money · Facts & stats
Pay facts & stats
7 fact-checked facts about pay and payments, each with the reason behind it. 5 more are in today's round and join this page after it closes.
The basics
What is 'net pay'?
AnswerPay left after deductions such as taxes
Net pay is take-home pay after deductions; gross pay is the total before deductions.
Going deeper
Which country was the first to use paper money?
AnswerChina
Paper money developed in China, with government-issued notes appearing under the Song dynasty.
Which small shells were widely used as money in parts of Africa and Asia?
AnswerCowrie shells
Cowrie shells were durable, hard to fake and easy to count, making them a common currency for centuries.
Contactless card payments commonly use which short-range wireless technology?
AnswerNFC (near-field communication)
NFC lets a card or phone exchange data with a reader when held a few centimeters away.
Expert level
The cash machine widely credited as the world's first opened in 1967 in which city?
AnswerLondon
The first cash machine opened in June 1967 at a bank branch in Enfield, north London.
The first Lydian coins were made from electrum, a natural mix of which two metals?
AnswerGold and silver
Electrum is a naturally occurring alloy of gold and silver, found in rivers of ancient Lydia.
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