Constructing markets for credit cards in eight postcommunist countries stanford, ca, 2014. An essay article on plastic money and cashless society. The book provides a seemingly simple blueprint for reform. Plastic money is much more convenient to carry around, as you do not have. A case study of rainbow towers group of hotels rtg article pdf available june 2016 with 3,214 reads how we measure reads. After indias government took 86% of currency out of circulation a couple of months ago, its main policy thinktank has a new plan for the country. Having such a theory is useful because it helps us understand or at least. In eshopping, merchant should create trust and loyalty to customers which influence to purchase on. Suggest possible solutions to challenges in the adoption and use of plastic money in zimbabwe. Pdf customers perceptions about plastic money towards.
Whats plastic money plastic money or polymer money, made out of plastic a new and easier way of paying for goods and services introduced in the 1950s and is now an essential form of ready money it includes credit cards, debits cards, atms, smart cards, etc. The importance of plastic money in todays scenario. Plastic money its technical and monetary importance educba. How did all start, in history you might have learnt batter system where goods were traded for goods, then came an era where gold and silver coins came into being, then we modernized we stared using paper notes and coins for trading of goods and services. Plastic recycling has become a thriving industry in modern times with the waste being directed to the landfill. Rethinking financial regulation, professor morgan ricks argues that the government should reclaim control over money creation. Yes, the advantages of plastic money over cash has made it a best friend of many. Even the pm modi, in his pet talk show mann ki baat raised the issue and advocated the use of plastic money and transforming the country system. Charge cards laid the groundwork for debit and credit cards. By a theory of money, imeananexplanationforwhy money is useful or necessary to facilitate trade. Find plastic money stock images in hd and millions of other royaltyfree stock photos, illustrations and vectors in the shutterstock collection.
It is such an electronic module where all the information. A study on the importance and popularity of plastic money in aluva doi. Hence, there is a strong association between the age and utility derived from plastic money usage. Plastic money or polymer money, made out of plastic, is a new and easier way of paying for goods and services. Review of related literature according to patil 2014, plastic money refers to the credit cards or the debit cards that we use to make purchases. The seven advantages of plastic money called as the credit. Related searches making money using the internet using money to make money plastic money wikipedia make money using youtube make money using your computer plastic money england plastic money canada new canadian money. It all started with a simple credit card that allowed you to make purchases today and pay later. A study on the importance and popularity of plastic money in aluva. Plastic money, financial inclusion, rural community, cash, mobile money. Chargit chargit was the first actual bank card and was issued in 1946. According to experts, plastic usage has gone on a long way in reduce the dependence on oil. Plastic money mainly represents debit and credit cards that allow cash to be drawn from an atm booth or shopping to be done on credit.
Relevance of plastic money, study based on faridkot dist. Plastic money fraud has become a global business and he made an attempt to track down fradulent and crime activites involved in the usages of the debit and credit card, but it is found difficultbecause the development differs from country to country and moves on fast. Pdf keeping in mind the changing technology replacing the traditional concept of paying not through cash but by plastic money credit and debit. Use of plastic money in zimbabwe, threats and opportunities. Thousands of new, highquality pictures added every day. His position in each group is defined in terms of his role and status kotler 1999, p. Objects of gold and silver were used in religious activities, as sacrifices and gifts to gods and priests and.
To study the perception of card users towards plastic money in india. Pdf the benefits of use of plastic money in greece and the eu. Money, ricks argues, is not just the cash in your pocket or the balance in your checking account. Evaluate the possible benefits which plastic money can bring to rural communities in zimbabwe. Despite the fast progression in the adoption of plastic money especially in the tourism sector the. Nov 29, 2017 collectors can receive payment in money, of course, but they also can draw on the credit to buy stuff, like cook stoves or fuel, at special stores. Plastic money a way forward for cash less transactions. Pdf to build up a sustainable banking environment, technological implementation is crucial. It was in the 1950s the concept of plastic money came into being. Pdf the significance of plastic money to the hospitality industry.
Companyissued charge cards can be found as far back as the early 1900s. There is now a reasonable body of research that has examined the emergence and development of consumer credit markets in the united states. Use of plastic money in zimbabwe, threats and opportunities hrmars. The plastic money generally a credit or debit card with a. Debit card is more advanced than atm card in that it can used at specified retail or departmental. Technology has changed the way we deal with money giving us more convenience and easy access to funds from anywhere. As a part of this, modern banks propelled plastic money find, read. Jan 09, 2017 after indias government took 86% of currency out of circulation a couple of months ago, its main policy thinktank has a new plan for the country. Pdf analysis the use of plastic money in hyderabad city. Population is ready as ever to use plastic money at a greater level due to its high levels of ease and convenience. Plastic money was introduced in the 1950s and is now an essential form of ready money which reduces the risk of handling a huge amount of cash. Louis, choose west county plastic surgeons for the highest level of care and a variety of procedures. Peter, a young mba graduate joins a large software firm as a business development executive.
Importance of plastic and usage in daily life essay and. Cvv card verification value or csc card security code is the three digit number usually mentioned at the back of a mastercard or a visa card. Pdf the significance of plastic money to the hospitality. Plastic money is referring to the credit cards or the debit cards that we use to make. The term plastic money refers to the use of technology to facilitate digital transactions that can be conveniently carried out without having to visit the banks every time. To know the importance of plastic money in the daily life of.
Polymer banknotes, which also feature security holograms and unique texturing, are harder to fake. Vishal project plastic money credit card debit card. The plastic banknotes are claimed to be more durable than existing currency and also apparently stay cleaner for longer, at least 2. Technology here means use of plastic money, plastic money can be your debit or credit card. The use of plastic money raises many questions on technical security, control and audit systems, most favoured technology to detect frauds and operational. However, the exponential growth in the cashless society with the usage of plastic money, it shows that money needs not to involve physically. Introduction of plastic money free download as word doc.
Special report on visa bets on debit card in india, asia pacific, the hindu. The number of innovative products for making payment has developed after the privatization and globalization. Power of plastic money cnn added on april 4, 2011 slovenias petra pockaj looks into anticounterfeiting measures and the largest collection of po yrner banknotes. Plastic money ppt plasticmoney orientation elements. Read an essay or article on use of plastic bags and cashless society advantages and disadvantages. Collectors can receive payment in money, of course, but they also can draw on the credit to buy stuff, like cook stoves or fuel, at special stores.
Introduction of plastic money credit card debit card free 30day. Plastic is also used to capture the solar energy in order to generate electricity and save on the energy bills. Generic term for all types of bank cards, credit cards, debit cards, smart cards, etc. Money was always associated with status and it has allows people to acquire products, status or prestige. Hence, the need for plastic money is totally indifferent for both men single and married.
The importance of convenience in consumer purchasing. Plastic money definition of plastic money by the free. Both are reasonably secured compared to cash and are widely accepted. After the demonetization move, the central govt is advising the people to use debit cards, credit cards etc for their daytoday transactions. A single person can have many attributes and belongs to many groups such as family, clubs, and organizations. Plastic money free download as powerpoint presentation. Money one of the most important factor for living life. Plastic money can last up to 50 years, hagverdiyev told echo. A study on the importance and popularity of plastic money in. Both these modes eliminate the need to have actual cash at hand during purchase. Debit card, credit card, plastic money, paper money, transactions, and financial institutions introductionplastic cards have been a very recent substitution of the normal method of paying through paper money. To study the issues and challenges faced by banks for using. Pdf plastic money is a very recent context replacing the traditional concept of.
An analytical study on use of plastic money in india. Plastic money is referring to the credit cards or the debit cards that we use to. The study sought to investigate the significance of plastic money to the hospitality sector with the rainbow towers group of hotels as a case study. Share of wallet study among cardholders across the six cities of delhi, mumbai, kolkata, chennai, bangalore and hyderabad reveals that card usage is highest for dining and shopping, while it is also popular for travelrelated expenses such as air. However, plastic money has its share of issues that one must be careful about. The distribution of plastic money has increased due to the fact that banking. Plastic money definitely provides an alternative in some cases and compliments cash as a medium. Thus, age is the important variable to enhance the usage of plastic money. To study the impact of plastic money on banking trends in india. Suggestion that requires for plastic money industry is that insurance and other security should be available for the security of plastic money. Holders of a valid card have the authorization to purchase goods and services up to a predetermined amount, called a credit limit. Pdf the study sought to investigate the significance of plastic money to the hospitality sector with the rainbow towers group of hotels as a. Polymer banknotes, which also feature security holograms and unique texturing, are. The significance of plastic money to the hospitality industry.
The plastic money generally a credit or debit card with a magnetic strip many people carry in their wallets or purses is the end result of a complex banking process. Benefits for a merchant merchants too will receive tax benefits for. User friendliness and feasibility are the main features of plastic money that have made plastic money popular not only in india but also all over the world. Importance of plastic money for the economy 1409802 plastic money has revolutionised the economy. Credit card reliance and have cooked up many ways to help you. Plastic money ppt plasticmoney orientation elements mesbah. Important and need of plastic money 1768801 plastic is very useful because we all in this time are dependent in plastic we all are carry any think we all are you plastic so we can say that it is important. User friendliness and feasibility are the main features of plastic money that have made plastic money popular not only in. Today credit and debit cards have largely replaced cheques as alternatives to cash. I use it mainly for making online payments and mobile recharges.
There are many offers specially reserved for online payments. Show pages world view cinn stane straus, thomas krause and 50 recommend others recommend this. A study on the importance and popularity of plastic money. Due to the technological revolution in financial sector, the payments in banking system have undergone a tremendous change. With a history of plastic money, you cannot ignore charge cards. Plastic money aka polymer money is made out of plastic and has formed an important part of our daily life these days. These cards mainly just kept customers loyal to the company. First and foremost, the transactions are very transparent when done via technology. A credit card is sometimes called plastic money or just plastic. To study consumers reasons for preference of plastic money over hard cash keywords. This means that more the use of plastic money, more will be the income tax returns an offer that is hard to ignore. As the history of money tells, the first people who are known to have used coins as money were the lydians this coin type, made of a gold and silver alloy, was in all likelihood the worlds first, minted by king alyattes in sardis, lydia, present day turkey, c. Card issuer company has to make their advertisement more effectively to attract more number of people. David andolfatto simon fraser university january 2009 1introduction what follows is a short essay on the theory of money.
Problems and prospects of plastic money in bangladesh. To know the importance of plastic money in the daily life of consumers. Found a link between the diffusion of plastic money and reductions in the demand. First, we report the characteristics of households that adopt electronic money.
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