Plastic money

7 July 2016

A cashless society has its own advantages. Perhaps, that explains why more and more Indians are inclined to shop, with a plastic card in hand. Nupur Anand and Vishwanath Nair list out more options for your convenience. Happy swiping!

The need to transform India into a less cash handling society has been talked about time and again. The result is there for all to see: over the years, debit and credit cards have managed to make it to almost everyone’s wallet in urban India. However, the number of non-cash transactions still stands at a dismally low level at just six per year, per person. And though banks have been trying to increase the focus on plastic money via debit and credit cards for many years, this list of pre-paid cards will also go a long way in making electronic payments a more preferred way of doing such transactions. It’s Plastic After All

Plastic money Essay Example

In the present world, we have become plastic money fanatics. Most of you would agree that with debit/credit cards in wallets, we do not mind going out without even a single note in hand. However, remember its plastic after all and susceptible to damage. Due to constant use, magnetic strips of the cards get worn out. As a result, the card might not get accepted. If during such times, plastic money is your only source of cash, you can be in a tricky situation

rightly said the plastic money is need of hour. People are using these cards on a vast scale. But after considering the review of literature it is seen the whole payment process of processing these cards is not safe and customer are facing many problems relating to plastic money. That’s why study is focused on consumer perception regarding the plastic money. Need of the study is to get to know about the comparative analysis of plastic money. There are many ethical issues and challenges in the market of plastic money which is required to be studied. This study is concerned with the Seven perks of plastic money Convenience, Budgeting technology, Reputation boosting, Corporate might, Cops and robbers, the float, openness to negotiations.

OBJECTIVES OF STUDY

Primary objectives:-

•To know the perception of people towards plastic money.

Secondary objectives:-

•To know the importance of plastic money in the daily life of consumers’ W.R.T credit and debit cards.

•To study the benefits of debit card and credit cards.

•To find out the market leader among the various banks/companies issuing credit and debit cards

•To know the problems faced by respondents using plastic money.

•To study the satisfaction level of consumers towards plastic money..

DEMERITS PLastic money has become the order of the day. Whether it’s a high-end store, a restaurant, a café outlet or even a grocery shop, people just buy what they like (not just what they want), proudly taking out their cards and allowing the shopkeeper to swipe away a fortune of their hard-earned money. You might claim that with plastic money around, you do not need to carry your cash and there is no fear of being robbed as well. At the same time, it is easy to use. However, believe it or not, there are a large number of disadvantages associated with using plastic

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