introduction of plastic money

8/18/2019 Introduction of plastic money

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INTRODUCTION

Plastic cards, or what is described as plastic money, happen to be the best-known

method of payment in this day and age. Most of us did not grasp how quickly that little

piece of plastic took its place in our lives. creditcards online will continue to be used for

the multiple advantages they offer us.

We realize all too well that online creditcards work as an epedient payment

option to pay for our many purchases. !magine stashing money in all your pockets as

against merely a little plastic rectangle.

"dditionally, at present going around with a large quantity of cash on you is not a wise

choice in terms of safety. #he safety issue assumes even greater significance when you

are visiting someplace far. Money is easy to spot and pick-pockets and thieves are able to

use nicked money equally easily because these funds are not traceable. online creditcard

dealings however, are detectable and carry an audit trail as well.

Most times, people find using online creditcard their way out of an otherwise

hopeless situation. $everal people found themselves purchasing airline tickets on-line,

reserving a hotel room, or renting a car. #hen again, there are times when you require

some more ready money at once. !n these kinds of emergency situations, you can switch

to using credit by using your creditcards online. %enerally, credit card online give a

maimum of fifty days of interest free use of your credit. &ikewise, some merchants

state, in their product promotion, that you have the ability to get yourself a high-priced

article ' e.g. ($) *,+++ today and pay for it in a particular number of even installments.

"ccordingly, you can handle your finances efficiently so as to remit your periodic

payments and do so without any additional charges for interest.

" lot of individuals look at your credit report 'which lists your credit history and is

created and updated using information from banks, merchants and other creditors to


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evaluate you, consequently its crucial that your credit report is as good as possible.

Potential employers, insurance establishments, mortgage organizations, and several other

institutions will attempt to get an idea of your character by going through this factual

data. Possessing a creditcards online and availing of it wisely will help create a positivecredit history.

#heres no need to get anious over whether youve adequate money on your person or

whether you dont. or do you need to use up large chunks of your time waiting in

lengthy queues in a bank branch, or spend time drawing money from an automatic teller

machine when instead you can always take your credit card wherever you go, and that

takes care of all your financial needs.

$everal online creditcard have travel insurance 'that is, insurance to cover

problems associated with traveling built into them as an inherent function. /onsequently,

if you are among those that are often on the move, this feature might be a tangible plus

point. 0ven so, you must make sure to confirm if this travel insurance provides adequate

coverage for you. !n addition, carefully go over the terms and conditions that come with

such insurance. Misplaced baggage is something which is almost always taken care of

with such insurance.

1ou may treat your online creditcards as an additional supplier of money when

abroad - and this whenever you dont wish to avail of your prepaid visa mastercard as

your first source of funds, in order to avoid paying commission on out-of-country

transactions. #herefore, when you find yourself strapped for money or travelers checks

you can bank on your charge cards as a fallback option. With such a plethora of useful

features when youre under financial stress, it is a convenience that you cannot 'rather

mustnt avoid. !ndeed, online credit card is really an essential commodity in todays

global environment.


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HISTORY

!n the late 233+s, the plastic cards market in !ndia, comprising credit cards, smart cards,

debit cards, charge cards, stored value cards and others, picked up momentum like never

before, growing at an annual rate of 456. "nalysts attributed this growth largely to the

rapidly increasing user base of debit cards.

#hough initially, there were only two players, '7)8/ and /itibank, the debit card

market base grew considerably through 2333 and reached the 9 million mark in March

4+++. #he usage figures indicated a very healthy growth of the market in future, as seven

out of 2+ cardholders were reportedly using their card regularly. #he annual spending

through debit cards in !ndia reached over :s 5 billion.

#he growth of debit cards was all the more impressive considering the fact that credit

cards, introduced in the country in the early 23;+s, had managed to reach the 2+ million-

user base level only in 4+++.

#hus, the debit card user base had reached one-third of the credit card user base in isa and

Master/ard. >isa introduced its first credit card, ?ank"mericard in 235;, which went on

to become a great success acquiring universal merchant acceptance. >isa=s card base


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increased significantly through the decades and reached the one billion mark in 4+++.

Master/ard !nternational was established in the 23@+s.

!n the 233+s, having covered a maisa shifted their focus to the 0ast, especially the "sia Pacific region. ?y 4+++,

Master/ard and >isa had established their debit cards as well in the "sia Pacific region.

!n 4+++, >isa debit cards reached the A; million mark in the "sia Pacific region, while

the Master/ard debit card base touched the 9@ million mark. Master/ard=s credit card

base touched ;+ million during the period.

History of Credit Cards and Debit Cards In Plastic oney

/redit cards have evolved into a safe and secure manner to purchase goods and services. #he

internet has given credit card users additional purchasing power. ?anks have options like cash-

back rewards, saving plans and other incentives to entice people to use their cards. )ebit cards

allow people the convenience of cards without the worry of racking up debt. #he convenience,

security and rewards offered by credit and debit cards keep shoppers using their cards as opposed

to cheques or cash.

Credit Card Ori!ins

#he first credit cards were issued by individual stores and merchants. #hese cards were

issued in limited locations and only accepted by the business that issued them. While the cards

were convenient for the customers, they also provided a customer loyalty and customer service

benefit, which was good for both customer and merchant. !t was not until 235+ that the )innerBs

/lub card was created by a restaurant patron who forgot his wallet and realized there needed to

be an alternative to cash only. #his started the first credit card specifically for widespread use,

even though it was primarily used for entertainment and travel epenses.

Plastic Beco"es t#e Standard

#he first )iner=s /lub cards were made out of cardboard or celluloid. !n 2353 "merican 0press

changed all that with the first card made of plastic. "merican 0press created a system of

making an impression of the card presented at the register for payment. #hen that impression was


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billed to the customer and due in full each month. $everal "merican 0press cards till

operate like this as of 4+2+. !t was not until the late 23;+s that "merican 0press began allowing

people to pay their balance over time with additional card options.

Ban$ Card Associations

!n 23**, ?ank of "merica created a card that was a general purpose card or Copen loopC card.

#hese Cclosed loopC agreements limited cards like )iners /lub and "merican 0press to certain

merchants, unlike the new Dopen loopEcards.

#he new general purpose system required interbank cooperation and additional regulations. #o

his created additional safety features and began building the credit card system of today. #wo

systems emerged as the leaders-->isa and Master /ard. 7owever, today there is little difference

between the two and most merchants accept both card associations.

Debit Cards E"er!e

#he >isa association of cards took credit cards to a new level in 23;3when they introduced debit

cards. #hese cards linked consumers to their checking accounts. Money was now drawn from a

checking account at the point of sale with these new cards and replaced check writing. #his

helped the merchants check that money was available and made it easier to track the customer if

the funds could not be obtained. /onsumers liked the convenience of not having to write checks

at the point of sale, which made debit cards a safe alternative to cash and checks.

T#e %tre

#here were almost 43 million debit card users as of 4++*, with a pro


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Debit card

)ebit cards are substitutes for cash or cheque payments, much the same way that credit cards are.

7owever, banks only issue them to us if we hold an account with them. When a debit card is

used to make a payment, the total amount charged is instantly reduced from our bank balance.

)on=t borrow on your credit cardI 7ere=s why

" debit card is only accepted at outlets with electronic swipe-machines that can check and

deduct amounts from your bank balance online.

C#ar!e card

" charge card carries all the features of credit cards. 7owever, after using a charge card you will

have to pay off the entire amount billed, by the due date. !f you fail to do so, you are likely to be

considered a defaulter and will usually have to pay up a steep late payment charge.When you use

a credit card you are not declared a defaulter even if you miss your due date. " 4.35 per cent late

payment fees 'this differs from one bank to another is levied in your net billing statement.

A"e( card

"me stands for "merican 0press and is one of the well-known charge cards. #his card has its

own merchant establishment tie-ups and does not depend on the network of Master/ard or >isa.

/redit cardsF :emember these dos and don=ts. #his card is typically meant for high-income group

categories and companies and may not be acceptable at many outlets. #here are a wide variety of

special privileges offered to "me cardholders.

Dinner clb card

)iners /lub is a branded charge card. #here are a wide variety of special privileges offered to the

)iners /lub cardholder. 8or instance, as a cardholder you can set your own spending limit.?esid

es, the card has its own merchant establishment tie-ups and does not depend on the network of

Master/ard or >isa. 7owever, since this card is typically meant for high-income group

categories, it may not be acceptable at many outlets. !t would be a good idea to check whether a

member establishment does accept the card or not in advance.

)lobal card

%lobal cards allow you the fleibility and convenience of using a credit card rather than cash or

travelers cheque while travelling abroad for either business or personal reasons.

Co*branded card


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/o-branded cards are credit cards issued by card companies that havetied up with a popular

brand for the purpose of offering certain eclusive benefits to the consumer. " debit card with a

difference

aster card & +isa

Master/ard and >isa are global non-profit organizations dedicated to promote the growth of the

card business across the world.

#hey have built a vast network of merchant establishments so that customers worldwide may use

their respective credit cards to make various purchases.

S"art card

" smart card contains an electronic chip which is used to store cash. #his is most useful when

you have to pay for small purchases, for eample bus fares and coffee. o identification,

signature or payment authorization is required for using this card.

#he eact amount of purchase is deducted from the smart card during payment and is collected

by smart card reading machines. o change is given. /urrently this product is available only in

very developed countries like the (nited $tates and is being used only sporadically in !ndia.

P#oto card

!f your photograph is imprinted on a card, then you have what is known as a photo card. )oing

this helps identify the user of the credit card and is therefore considered safer. ?esides, in many

cases, your photo card can function as your identity card as well.

CREDIT CARD

" credit card is a small plastic card issued to users as a system of payment. !t allows its holder to

buy goods and services based on the holder=s promise to pay for these goods and services. #he

issuer of the card grants a line of credit to the consumer or the user from which the user can

borrow money for payment to a merchant or as a cash advance to the user. (sage of the term

Ccredit cardC to imply a credit card account is a metonym. When a purchase is made the user

would indicate consent to pay by signing a receipt with a record of the card details and indicating

the amount to be paid. !ssuer agrees to pay the merchant and the credit card user agrees to pay

the card issuer. #he credit card can be defined as D" small plastic card that allows its holder to

buy goods and services on credit and to pay at fied intervals through the card issuing agency. "

credit card is a card or mechanism which enables card holder to purchase goods, travels and dine

in a hotel without making immediate payments. #he holders can use the cards to get credit from


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banks up to A5days. #he credit card relieves the consumers from the botheration of carrying cash

and ensures safety. !t is a convenience of etended credit without formality. #hus credit card is a

passport to, Dsafety, convenience, prestige and credit.

Ad,anta!es of Credit Card

#his also provides additional customer services to the eisting clients. !t enhances the

customer satisfaction. More use by the car holder and consequently the growth of banking habits in general.

#he risk factor of carrying and storing cash is avoided. !t is convenient for him to carry

credit card and he has trouble free travel and may purchase his without carrying cash

or cheque. #he card holder has the period of free credit usually between 9+-5+ days of purchase.

"vailing credit with minimum formality.

#he credit card saves trouble and paper work to travelling businessman.

!ncreases in sale because of increased purchasing power of the card holder due to unbilled

credit available to the card holder.

/redit card ensures timely and certainly of payments.

$ystematic accounting since sales receipts are routed through banking channels.

"dvertising and promotional support on national scale.

Disad,anta!es of credit card

$ome credit card transactions take longer time than cash transactions because of various

formalities. )iscounts and rebates can rarely be obtained.

#he cardholder is responsible for charges due to loss or theft of the card and the bank

may not be party for loss due to fraud or collusion of staff, etc

/ustomers may be denied cash discount for payment through card.

!t might lead to spending habits and cardholders may end up in big debts

"void the entire cost and security problem involved in handling cash.

&osses to bad debts and reduced an additional liquidity is

!t also allows him to delegate spending power to add on members

/redit card is considered as a status symbol.

DEBIT CARD

" debit card 'also known as a bank card or check card is a plastic card that provides the

cardholder electronic access to his or her bank account's at a financial institution. $ome cards

have a stored value with which a payment is made, while most relay a message to the

cardholder=s bank to withdraw funds from a designated account in favour of the payee=s


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designated bank account. #he card can be used as an alternative payment method to cash when

making purchases. !n some cases, the primary account number is assigned eclusively for use on

the !nternet and there is no physical card.

!n many countries the use of debit cards has become so widespread that their volume has

overtaken or entirely replaced checks and, in some instances, cash transactions. #he development

of debit cards, unlike credit cards, has generally been country specific resulting in a number of

different systems around the world, which were often incompatible. $ince the mid 4+++s, a

number of initiatives have allowed debit cards issued in one country to be used in other countries

and allowed their use for internet and phone purchases.

7owever, unlike credit cards, the funds paid using a debit card are transferred from the bearer=s

bank account, instead of having the bearer pay back the money at a later date.

)ebit cards usually also allow for instant withdrawal of cash, acting as the "#M card for

withdrawing cash. Merchants may also offer cash back facilities to customers, where a customer

can withdraw cash along with their purchase.

Ad,anta!es of Debit Card

Plastic money, unlike paper money, will not burn easily and can resist higher temperatures

than paper money. 1ou have no fear to be theft. "nd its easy to use.

Paper money also picks up dirt and stains more easily than plastic money.

Plastic money is the debit card and credit cards. Plus point of plastic money is that you

wonBt have to carry your cash around all the time.

!t also doesnBt wear after time as paper does not rip and tear.

?e more convenient to carry than cash.

Provide a convenient payment method for purchases made on the internet an over the

telephone. 7elp you establish a good credit history.

Disad,anta!es of Debit card

/ost much more than other forms of credit, such as a line of credit or a personal loan, if you

donBt pay on time.

)amage your credit rating if your payment are late.

"llow you to build up more debt than you can handle.

7ave complicated terms and conditions.

!tBs around 4.56 of the money you spent.

$ome etra money will be deducted for the bank services.


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!t is cheaper to make.

OB-ECTI+E

Pri"ary ob.ecti,es/

#o know the perception of people towards plastic money.

Secondary ob.ecti,es/

2. #o know the importance of plastic money in the daily life of consumers with respect to

credit and debit cards.4. #o study the benefits of debit card and credit cards.

9. #o find out the market leader among the various banksJ companies issuing credit and debit

cards.A. #o know the problems faced by respondents using plastic money.

5. #o study the satisfaction level of consumers towards plastic money.

'ITERATURE RE+IE0

Hayas#i1 %"i$o and 0einer Start E2 3Se4t256678 in t#eir article

9Co"4etition and Credit and Debit Card Interc#an!e %ees:


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$tated that there is a bridge between the theoretical and empirical literatures on interchange

fees. /redit and )ebit card industries are eamples of two K sided markets. #he

distinguishing feature of two- sided markets is they contain two sets of end users, each of

whom needs the other in order for the market to operate. !n the case of credit and debit cards

the two end user groups are cardholders and merchants.

Payment card systems take one of two principal forms. #hey may be three- party systemF

/ardholders, Merchants and a single financial institution that offers proprietary network

services, 8or eampleF "merican 0press. "lternatively they may be four-party systemsF

/ardholders, Merchants, /ard- !ssuing ?anks, and Merchant acquiring ?anks, using the

services of a multi- party network such as Master/ard, >isa, or a domestic debit card

etwork. !n four-party system, the interchange fee is an instrument that networks can

(se to achieve a desired ?alance of cardholder.

C#a$ra,orti1 S.it 3-ne 566;8 in #is article 9T#eory of Credit Card

Net


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cards allow customers to pay for goods and services at the point of sale by authorizing a

withdrawal from their checking or savings account. Most "#M cards can be used at the point

of sale as debit cards. $uch transactions are called P! debit transactions because the

cardholder must enter a four digit personal identification number 'P! to authorize the

transaction. 8unds are then immediately withdrawn from the associated bank account. #he

transaction itself is routed through as electronic funds transfer '08# network, 8or eample

$tar , 1/0 and pulse @ transaction , a signature debit transaction does not immediately

remove funds from the cardholderBs accountG !t typically takes a day or two for the

transaction to clear. Master/ard must also accept the comparable brand of debit card.

AN ANA'YTICA' STUDY ON USE O% P'ASTIC ONEY IN INDIA/

0ITH SPECIA' RE%ERENCE TO CARD HO'DERS O% )U-ARAT Dr2

=as#al A2 B#att 3 A4ril 566> 8#he ?anks are the main participants of the financial system in !ndia. #he ?anking sector

offers several facilities and opportunities to their customers. !ndian banking industry has

been divided into two parts, organized and unorganized sectors. "mong e-banking, card

banking is the most important form of e-banking products. !mportant card banking products

are )ebit /ards, /redit /ards, $tore /ard and $mart /ard which are popularly known as

Plastic Money. :esearch design used for this research is descriptive and method is primary

which is collected through structured questionnaire. Lb


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advertisement more effectively to attract more number of people. !n e-shopping, merchant

should create trust and loyalty to customers which influence to purchase on-line.

IPACT O% P'ASTIC ONEY ON BAN=IN) TRENDS IN INDIA

Ss#"a Patil 3 -an 56?>8)ue to the technological revolution in financial sector, the payments in banking system have

undergone a tremendous change. #he umber of innovative products for making payment

has developed after the privatization and globalization./ustomers have showed their

preference over the usageofthe plastic money generally over a period of timein thebanking

process. Plastic money is an alternative to the cash or the standard HmoneyB. Plastic money is

referring to the credit cards or the debit cards that we use to make purchases .>arious other

types of plasticcards provided by banks in !ndia are "#M cards, $mart cards. #he current

study presents an overview of the development of banking in the plastic cards usage trendssince these have been introduced in !ndian banking sector. #he study also highlights the role

of these cards as electronic payment tool to be used by customers and discusses the

penetration of these cards in replacement of cash and paper money. #he $tudy is been

carried out by taking a survey of 2++ respondents by non probabilistic convenience sampling

method from a city of Mumbai by using structured questionnaire and interview technique.

#he factors for adoption of plastic money in replacement of cash and paper money have

been identified which shows the preference of the customers for plastic cards over the cash

and paper money. $ome future plans made by various banks and institutions for avoiding the

frauds arisen due to the credit and debit cards are also been discussed in a way that it depicts

the picture of its future growth and prospects in !ndia. "s the study is been carried out in a

city of Mumbai the results cannot be generalized.

RESEARCH ETHODO'O)Y

:esearch methodology deals with the method of study i.e. how the study can be carried

out and what techniques can be used. !t is the careful investigation and enquiry in a systematic

manner in order to find solution to find to find problems in research. !t consists of defining and

redefining the problems formulating the hypothesis or suggestions solutions collecting data and

evaluating the data and at last carefully testing the conclusion to determine whether they fit the

formulated hypothesis or not.


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Researc# Desi!n/ :esearch design states the conceptual structure within which research is to be

conducted. " research design is the arrangement of conditions for collections and analysis of data

in a manner that aims to combine relevant the research purpose with economy in procedure. #he

different research designs available areF

E(4loratory researc#/ !t generally emphasis on discovery of ideas and insights. !tBs more

qualitative rather than quantitative.

Descri4ti,e researc#/ !t is concerned with determining the frequency with which something

occurs or etent relationship between two variables. #his study will be having an eploratory

research which is based on discovery of ideas and insights.

#he :esearch Methodology adopted for the research pro


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$econdary data are those which have already been collected by some one. 8or this study there

will be following secondary data.

Websites

Magazines

"rticles and ewspapers ?ooks

Tools of analysis/

Pie charts and percentage

8igures

T#e li"itations of a stdy are/

2. #he results are based on primary data.4. #he accuracy of the result is also limited to the reliability of methods of investigation,

measurement and analysis of data.

9. #he present study is based on the data from L:#7 )0&7! city only and thus might not

be true for all others areas.

A. #here was lack of time.5. #he data collected may or may not be accurate because of the biasness from respondent

side.

*. 8indings are not


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DATA ANA'YSIS AND INTERPRESTATIONS?2 To $no< abot res4ondents


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52 Card 4ossessed by res4ondents

Debit Card; 58%/redit /ardG 4;6

Both; 14%

Card Possessed No2 of Res4ondents Percenta!e

Debit Card 7 7

Credit Card 5 5

Bot# F ?

Inter4retation/

8rom the above data collected we can interpret that the people mostly have debit card, as credit

card is little epensive than debit card so people mostly prefer debit card, but still people have

applied for their credit card also. $ome people have both debit card and credit card.


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;2 Debit cards of different co"4aniesGban$s o

T#ree

Inter4retation/

#he above data reveals that mostly people have one debit cardG about 456 of the respondents are

using two debit cards from different companies, itBs clear that people are satisfied with their debit

card.

>2 No2 of Credit cards of different co"4aniesGban$s o


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LneG *A6

#woG 9+6

#hreeG *6

No2 of Credit Cards No2 of Res4ondents Percenta!e

One > >

T


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HD%C Ban$ SBI PNB OBC ICICI BOI

22

28

12

6

22

10

Card O


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'ess t#an ? year 55Bet


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$hoppingG 9@6

Withdrawal of moneyG 4A6

7otel and :estaurantG 4+6

Petrol fillingG 2A6

"ll of aboveG A6

Pr4ose for sin! Plastic "oney No2 Of Res4ondents Percenta!e

S#o44in! ; ;

0it#dra


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)ebit card G 9*6

/redit cardG 9A6

?othG 9+6

Card ;>

Bot# ;6 ;6

Inter4retation/

8rom the above figure it is clear people mostly prefer debit card but credit cards are not far

behind, about 9A6 of the respondents feel that credit card is more beneficial than debit card and

some feel that both are beneficial.

K2 Benefits 4ro,ided by Debit card


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50

20 2010

Benefits 4ro,ided No2 of Res4ondents Percenta!e

Secrity ;; 76

%ree fro" frad ?; 56

Anyti"e access ?; 56

No interest c#ar!es J ?6

Inter4retation/

8rom the above collected data it is clear that there are many benefits and respondents are

satisfied with these benefits, as they feel secured and easy to carry the money. #hey can use

wherever they want. $o from analysis respondents are en


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57 5; 575J

? 5;

>? 5

;>

Benefits Pro,ided No2 of Res4ondents Percenta!e

Con,enient to 4ay ? 57

O,erdraft facility ?> 5;

Presti!e to #older ? 57

Easy to carry ? 5J

Inter4retation/

8rom the above study it can be seen that respondents agreed that credit card is easy to carry and

it give prestige to the holder. #hey can use it where ever they want and fulfill their wishes,

without thinking. /redit card gives facility to the holder to do anything on credit. 8rom above

4@6 thinks itBs easy to carry in case of cash.

??2 Proble"s faced in 4rocessin! t#e card


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8eeling of insecurityG 9+6

8ear of losing cardG A+6

(nnecessary formalitiesG 256

7igh fee charged by bankG 256

Proble" %aced No2 of res4ondents Percenta!e

%eelin! of insecrity ;6 ;6

%ear of losin! card >6 >6

Unnecessary for"alities ?7 ?7

Hi!# fee c#ar!ed by ban$ ?7 ?7

Inter4retation/

8rom the data it is clear that the cardholders have the problem in processing the card. A+6 have a

fear of losing a card, and 9+6 feel insecure that card might be misused by some other person.

?52 Csto"er Satisfaction to


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Satisfied J7

Netral 56

Unsatisfied 7

Satisfaction le,el No2 of Res4ondents Percenta!e

Satisfied J7 J7

Netral 56 56

Unsatisfied 7 7

Inter4retation/

8rom the data it is clear that @56 of consumers are satisfied with the services of the plastic

money, 4+6 consumers are not satisfied and only 56 of consumers are not satisfied.

%indin!s

8ollowing are the findings that are drawn from the studyF

:espondents taken for this study are those who are using the plastic money in their daily

life. *46 of the respondents believe that plastic money is the currency of modern !ndia.


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*36 of respondents own one debit card and 456 owns two debit cards.

People have less craze for credit card. Lnly 4;6 of the respondents have credit card.

:espondents mostly prefer the plastic money of $?! ?ank, 7)8/ ?ank and !/!/! ?ank.

9A6 using the cards for the last 9 years and the trend of plastic money have emerged

from the last few years. Mostly people use the cards for shopping and withdrawal of money- plastic money is

mostly preferred at the time of shopping. )ebit card is more beneficial according to 9*6 respondents.

)ebit card provide security to the cardholders.

4+6 respondents are dissatisfied that debit card is free from fraud.

Mostly people agreed that debit card provide the facility of anytime access. "nytime you

can withdraw your money. /redit card is convenient way to pay agreed by most of the respondents.

/redit card provide prestige to holders having the tie up with the famous card companies

it provide the sense of pride. 9+6 cardholder agreed that the plastic money holders have to tackle with the problem of

insecurity. /ardholders have to fulfil the unnecessary formalities while obtaining the card.

Plastic money has a rapid growth in the coming years.

#he growth credit card in !ndia is still very slow. /ompanies are going really hard to

increase the sale of credit cards.

CONC'USIONS

!n the last two years, spending pattern through plastic money has changed drastically.

#ravelling, dining and


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#he status symbol aspect of owning and using cards too played its part on bringing about

such robust growth over the space of a single year.

/onsumers are preferring these cards mostly for shopping online 0- commerce has given

a better way to use the plastic money.

"ccording to proBs, magazines and hoardings to have

maimum reach because the respondents perceive these as important promotional tools. #he whole procedure of obtaining the plastic money needs to be authentic. /ompanies

should provide security to the card holders. /ompanies should reduce the amount of the annual fee charged on the cards.


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BIB'IO)RAPHY

othari /.:, D:esearch Methodology F :esearch and #echniquesEG >ishwa Prakshan, ew

)elhi, Ath edition.

0.gordan and atra


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UESTIONNAIRE

Dear SirGaa"

! am student of M?" of orthern !ndia 0ngineering /ollege and topic of my pro


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.* $ince how long you have been using debit cardJcredit cardJ both N

a &ess than 2 year b ?etween 2-9 year

c ?etween 9-5 year

d More than 5 year

.@ ormally for what purpose do you use cardsN

a $hopping b Withdrawal of money

c Petrol filing

d 7otel and restaurants

e "ll of above

.; Which card according to you is more beneficialN

a )ebit card

b /redit card

c ?oth

.3. What are the benefits provided by debit cardsN

a $ecurity

b 8ree from fraud

c o interest charges

d "nytime access

.2+ What are the benefits provided by credit cardsN

a 0asy to carry

b /onvenient to pay

c Lverdraft facilityd Prestige to holder

.22 What are the problems you are facing in processing the cardN

a 8eeling of insecurity

b 8ear of losing the card

c (nnecessary formalitiesd 7igh fee collected by banks

.24 "re you satisfied with the use of plastic moneyN

a $atisfied b eutral

c (nsatisfied


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introduction of plastic money

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