The article has been published in Economic Bulletin. The article is a slightly revised version of Chapter II (the summary) in Norges Bank's Occasional Paper No. 44. The Occasional Paper surveys the development of the Norwegian payment system in the period 1945-2010. It documents the main developments in the payment systems area during this period and will serve as an input to Norges Bank's Bicentenary Project in connection with Norges Bank's bicentenary in 2016.