Plastic money

Presented by:
Abhimanyu
Manish
Vivek
Plastic Money - An Introduction

 Plastic money or polymer money, made out

of plastic, is a new and easier way of paying
for goods and services.
 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.
 It includes debit cards, ATMs, smart cards,
etc.
ADVANTGES OF PLASTIC MONEY

1. Offer free use of funds, provided you

always pay your balance in full, on time.
2. Be more convenient to carry than cash.
3. Help you establish a good credit history.
4. Provide a convenient payment method for
purchases made on the Internet and over
the telephone.
5. Give you incentives, such as reward points,
that you can redeem
DISADVANTAGES OF PLASTIC
MONEY

1. Cost much more than other forms of credit,

such as a line of credit or a personal loan, if
you don't pay on time.
2. Damage your credit rating if your payments
are late;
3. Allow you to build up more debt than you
can handle;
4. Have complicated terms and conditions
Types of plastic money

 Debit card
 Credit card
 Global card
 Smart card
 Photo card
 Charge card
 Debit card
Debit cards are upgraded atm cards
branded with Visa, MasterCard, or other
familiar credit cards company logo. They
look exactly like credit cards except
directly tap your checking account every
time when you make a purchase or
withdrawal.

They are easier, more convenient ,less

burdensome and offer greater access to
your money than do checks ,ATMs, or
credit cards. They are descendents of ATM
cards that came in early 1980.
USE OF DEBIT CARDS

 Debit cards can be used almost everywhere –

retail stores, gasoline stores, restaurants etc in
the either of the following ways:
Without Personal Identification Number.(PIN)

●
Offline Transaction

With Personal Identification Number.

●
(Online Transaction)
WITHOUT PIN

CREATE A
MERCHANTS DEBIT
IDENTIFIES
TERMINAL AGAINST
IT AS A
READ THE CUSTOMER
DEBIT CARD BANK
CARD
ACCOUNT
WITH PIN

●
INSERT THE CARD IN THE MACHINE

STEP# 1
Types of credit cards.

 Standard credit card:

 Credit limit is fix.

 Person have to pay min amount in end of

month
Premium credit card

 Gold and platinum card.

 Gives extra services and incentives like

reward points.

 Charge higher interest than standard credit

cards
Charge credit card:

 No credit limit.

 customer have to pay full amount in end of

month
Photo card

 If your photograph is imprinted on a card,

then you have what is known as a photo card.
Doing this helps identify the user of the credit
card and is therefore considered safer.
Besides, in many cases, your photo card can
function as your identity card as well.
Global card

 Have the features of credit card

 Can be used across the globe

 Much in trend replacing travellers’ card

Smart card

 Contains electronic chip

 Useful for small purchase like bus fares,
coffee etc.
 No identification, signature or payment
authorization required
 Currently used in very developed countries
Master Card or Visa

 Global non profit organization

 Dedicated to promote the growth of card
business across the world
 Vast network of merchant establishments
 Allows the merchants to send transactions to
the banks
 POS Machine and functioning