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Plastic Money Full Project

Plastic Money Full Project

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Published by Nevil Surani

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Categories:Types, Business/Law
Published by: Nevil Surani on Nov 24, 2010
Copyright:Attribution Non-commercial

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11/20/2014

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Ch.1 Introduction
 Plastic money or polymer money, made out of plastic, is a newand easier way of paying for goods and services. Plastic money wasintroduced in the 1950s and is now an essential form of ready money whichreduces the risk of handling a huge amount of cash. It includes debit cards,ATMs, smart cards, etc. Credit cards, variants of plastic money, are used assubstitutes for currency. This book on plastic money is divided into twosections titled Concepts and Experiences. The former covers articles on thethe emergence of plastic money, different types of plastic cards and their growth in India and other related issues. An experience discusses theexperiences of banks like Standard Chartered, Citibank, which deal with plastic money and their growth in the market.
Meaning
Plastic money refers to credit cards, you use them whenever you wantand pay later (with interest, of course). It makes it too easy for people to buythings they normally could not afford, which makes it easier to get into debt.
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Definition
A slang phrase for credit cards, especially when such cards usedto make purchases. The "plastic" portion of this term refers to the plasticconstruction of credit cards, as opposed to paper and metal of currency. The"money" portion is an erroneous reference to credit cards as a form of money, which they are not. Although credit cards do facilitate transactions, because they are a liability rather than an asset, they are not money and not part of the economy's money supply.
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Ch.2 The History Of Credit Cards and Debit Cards InPlastic Money
Credit cards have evolved into a safe and secure manner to purchase goods and services.The Internethas given credit card usersadditional purchasing power. Banks have options like cash-back rewards,savings plans and other incentives to entice people to use their cards. Debitcards allow people the convenience of cards without the worry of racking updebt. The convenience, security and rewards offered by credit and debitcards keep shoppers using their cards as opposed to checks or cash.
Credit Card Origins
The first credit cards were issued by individual stores andmerchants. These cards were issued in limited locations and only accepted by the businessesthat issued them. While the cards were convenient for thecustomers, they also provided a customer loyalty and customer service benefit, which was good for both customer and merchant. It was not until1950 that the Dinner's Club card was created by a restaurant patron whoforgot his wallet and realized there needed to be an alternative to cash only.This started the first credit card specifically for widespread use, even thoughit was primarily used for entertainmentand travel expenses.
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jashjain reviewed this
Rated 4/5
cool projects but i prefer u ppl shouldnt charge for the download
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boscosharma added this note
seriously vry helpful
firdous3003 added this note
am i the only one who noticed the spelling of cheque is wrong?
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