Chapter -1

Introduction
Plastic money as the name suggests the money made out of plastic, an easy way to make
payment in exchange of goods and services to reduce the usage of cash. The idea behind using
plastic money was to make payment system cashless. There are huge number of such cards
available for use today like, ATM cards, credit cards, debit cards, smart card, charged card and
so on. India is one of the world’s fastest emergent economies; the electronic transactions have
also become more secure, more convenient, authentication and made ecommerce safer. The
forthcoming next five years will be a very exciting period in the payments space in India. It is
expected more development, innovation and infrastructure building coupled with adoption of
more dynamic technological innovations. The growth of plastic money can be divided into two
main perspectives, infrastructure and consumer perspective. Making a strong pitch for promotion
of electronic payments in the country and making India a cashless economy.
Plastic cards are an advancements through which the clients can make payments easily to buy
merchandise, and for almost all transactions. The ongoing development in the utilization of
plastic cash after 2010 has been mostly in the form of credit and debit/ATM cards. Most cards
are free, with financial records at a bank or credit association. These cards can also be utilized
for round the clock withdrawals from the ATMs. Many cards also offer remunerations programs
for increased usage.
In India, banks are progressively innovating to enhance the nature of client benefits. Innovation
has resulted in a change from the customary managing of a manual account to an e – savings
account. Today, we thus see an ever-increasing move from paper money to e– payment modes
on the one hand, and on the other, newer methods of e – payment developing and supplanting
existing advancements, especially in a smart phone environment. Rising disposable incomes,
introduction of new products and services, increased travel, and the growth of the entertainment
sector has further fueled the use of plastic money.
1.1 History of Plastic Money

The evolution of plastic money dates back to the 1920s, when the first payment card was
introduced in the USA. Dinner Club and American Express launched the world’s first plastic
card in the USA, in 1950. The first Credit card was introduced by Dinner Club in 1951.
However, the plastic card began to be widely used only after1970, when the specific standard for
magnetic strips was set. In the late1990s, plastic card became very common and by 2001, plastic
money had become an essential form of ‘ready money’.
With a history of “plastic money”, you cannot ignore charge cards. Charge cards laid the
groundwork for debit and credit cards. Company-issued charge cards can be found as far back as
the early 1900’s. These cards mainly just kept customers loyal to the company.
Charg-it” was the first actual bank card and was issued in 1946. The card was invented by a
banker in Brooklyn, by the name of John Biggins. However, only local purchases could be made.

1.1.1 The Dinner Club Card

The concept of the credit card was initially acted
upon by Frank McNamara. After dinner with a
fellow business associate, Frank found himself
short on cash after forgetting his wallet. What
followed was an epiphany that led him to think of a
charge card. This card, later known as the “Diners
Club Card”, could be used at multiple locations.
This novel idea became the first true model of the
 1.1.2 American Express
American Express issued their first
credit card in 1958. Due to their
international presence, the Green
Charge Card was globally
accepted. This became the first
internationally available credit
card.

Credit and debit cards would not be what they are

1.1.3 The Mag Strip
today without the Mag Stripe. This momentous leap
in card technology arrived when the CIA hired IBM
to attach a magnetic stripe to their identity cards.
The technology was already available; however, the
main problem was permanently attaching the stripe
to the card without wrinkles. But once the forest
wife’s managed to solve the problem and allowed
IBM to go into full production with the Mag Stripe on
all their cards. 

1.1.4 Automated Teller Machine (ATM)

One of the most convenient aspects of plastic

money is the all-serving ATM. The ATM (Automated
Teller Machine) was brought into existence in the
1960’s by John Shepperd-Barron. Along with the
invention of what was soon to be the ATM, he also
invented the 4-digit international standard pin code.
John first wanted a six-digit army serial; but his wife
convinced him four digits would be easier to
remember.
 One of the more disruptive changes to plastic money came with

1.1.5 Chip and Pin the adoption of chip and pin technology. Chip and Pin
technology makes cards much more secure and personal
information is very hard to steal because of the encrypted chip.
A cloned chip can also be immediately recognizable as a
fraudulent card, as each individual chip is specifically encrypted
for each individual card. Even though this card technology has
been around since the 1990’s, it has become nationally used
across Canada, and will become mandatory in the United
States by October, 1st 2015.
1.1.6 Master Card
 Master charge changed their logo and came out with
the iconic red and orange overlapping circle. However, it
was not until ten years later when Master charge
became the Master card we know today.  The 80s were
also a revolutionary decade for MasterCard. They
released their emergency card replacement program;
they entered the Pacific Rim, and acquired Cirrus which
was the largest ATM network in the world. After such a
successful decade, MasterCard capitalized on their
advancements and became the other key player in the
market along with VISA.

1.1.7 Yes Card

The Yes Card is a new way of access
Online loans and getting money instantly. The old
ways of taking loans in the form of a cheque or cash,
having to wait days for processing and then taking
the time to deposit the money are gone! The Yes
Card allows you to access and use your loans any
time any place and faster than anywhere else.

There are many more such cards like this Bling Tag, Square Card, and Bank Ameri card.
1.2 Advantage of Plastic Card
  Cards fit into the wallet easily

Essential that we need to have some sort of money in hand always as we never know when a
need arises. But carrying a lot of cash in hand is not at all a wise idea. Also, who would want to
carry a lot of cash in hand and make their wallet bulge out? In such situation, plastic money
comes for a help.
 Crime rates will decrease

We are leaving in a world where thefts and crimes are on the increase. Keeping cash in hand is
not a safe thing to do. It will not give you peaceful night. So be practical and opt for plastic
money. You do not have to worry when someone runs away with your wallet, as long as you
have plastic money in it.
 Provide credit

With the Advent of credit card, you can purchase anything today and you are given suffering
time to pay for it. Only with plastic money. Tracking transportation becomes easy. Having
attack of your daily or monthly transportation is always good. By using the plastic money, you
are automatically keeping a track of all your transportation you can verify it later if required.
 0% installment option

Card provides its customer the facility to convert their purchase from selected outlet to
installment option of 3, 6 or 12 months at 0% interest rate. The customer is given the option to
select the period of installment which cannot be changed later.
 Convenience of making payments from home

In olden days when there was no plastic money, we need go personally to each palace to make a
payment be it utility payment or booking tickets. But now you can pay at your own convenience
string at home with use of plastic money.

1.3 Disadvantage of Plastic Money

  Just plastic money won’t help always
Plastic money is not complete replacement for cash. In certain place, we need cash itself. While
buying fish from the market or when paying to the newspaper boy, we need cash itself as they do
not carry POS machine to swipe the plastic money.
 Plastic money is also not 100% safe

There is certain amount of risk involved in transactions which involves plastic money as well.
Especially when doing online shopping. We are exchanging the details relating to our card over
the internet which in not always a safe place.
 Minimum purchase requirements

One of the major disadvantages of using plastic money is that one needs to make a minimum
purchase in order to swipe their card. Purchase requirement are differ as per card.
 Service charge in certain cases

When we are using plastic money instead of cash, in certain cases the bank charge service charge
for the purchase of certain items. For instance, in some countries, the service charge is levied on
card transaction when you purchase gold from jewellery. When paying cash, this additional
charge will not be taken.
 Card can get damaged

Imagine a situation where you have made a purchase and when at the counter you realize that
you card is damaged or when trying to swipe, the tradition is not getting proceed due to some
chip error or damaged.
 Interest, for non-payment

A credit card allows you to Purchase today and pay for it later period of time. It gives you a
credit period, but if we fail to make the payment within the due date, interest will be changed.

1.4 Types of Plastic Money

There are various types of plastic money as describe below:
 Credit Card
 Debit Card
 Charged Card
 Smart Card
 Master Card Visas

1.4.1 Credit Card

A credit card is plastic money that is used to pay products and services at over 20million location
around the world. All you need to do is product the card and sign a charge slip to pay for your
purchase. The institution which issues the card makes the payment to the outlet behalf; you will
pay this 'loan' back to the instruction at the later date.

1.4.2 Debit card

Debit card are substitute for cash or check payment, much the same way that credit cards are. It
is usually a rectangular piece of plastic, resembling any charge card. However, banks only issue
them to you if you hold an account with them. When a debit card is used to make a payment, the
total amount charged is instantly reduced from your bank balance. They can be used to buy
goods or services, or to get cash from an automated teller machine.

1.4.3 Charged Card

 A charge card is a type of electronic payment card that charges no interest but requires that
you pay the statement balance in full, usually monthly. Charge cards are offered by a limited
number of issuers. If you don’t, you’ll pay stiff fees and penalties on unpaid balances.
Charge cards are popular because of the rewards and benefits they offer with each
purchase. Charge cards typically include a high annual fee that can run up to $500.

1.4.4 Smart Card

A smart card, chip card, or integrated circuit card (ICC or IC card) is a physical electronic

authorization device, used to control access to a resource. It is typically a plastic credit card-
sized card with an embedded integrated circuit (IC) chip. Many smart cards include a pattern
of metal contacts to electrically connect to the internal chip. Smart card is currently
introduced by BRTS which stands for rapid Transit services in Gujarat in India. Smart cards
can provide personal identification, authentication, data storage, and application processing.
Applications include identification, financial, mobile phones (SIM), public transit, computer
security, schools, and healthcare. Smart cards may provide strong security authentication
for single sign-on (SSO) within organizations. Numerous nations have deployed smart cards
throughout their populations.

1.4.5 Master Card

  
Master card changed their logo and came out with the iconic red and orange overlapping circle.
However, it was not until ten years later when Master charge became the Master card we know
today.  The 80s were also a revolutionary decade for MasterCard. They released their emergency
card replacement program; they entered the Pacific Rim, and acquired Cirrus which was the
largest ATM network in the world. After such a successful decade, MasterCard capitalized on
their advancements and became the other key player in the market along with VISA.

1.5 The role of various parties involved in Plastic Money

i. Customer or Cardholder: The authorized person holding the card and can use it for purchase
of goods and service.
ii. Card issuing bank: The bank or institution which issues the card to its eligible customers.
iii. Merchants: Entities which sell the goods and service to the cardholder and duly agree to
accept the card for payment.
iv. Bank Card Association: The associations which act as an intermediate between card issuing
bank and merchant’s bank and authorized the transaction. (VISA, Master card, America
Express)

1.6 General Structure of Electronic Payment System in

Plastic Money
 (c u
eC
m
sto
lin r)
l ien
C a(su n
tB kr) erc h
M an t

er ireh
M
u
k(cq
an
B an t)

(Fig no 1.6.1 general structure of electronic payment in plastic money)

From the security point of view the most sensitive operation are credit and debit. The main
threats are concentrated in these two operations. These threats include using the fake payment
instrument, modifying communication of payment instrument and illegal crediting. As shown in
fig 1.6.1 of general structures of electronic payment of plastic money you can easily understand a
exchange of balance between merchant and customer and manage float in the system. Firstly, the
client who goes to merchant shop can make payment of his bill through cash free payment i.e.
card in return of goods and services and then the merchant send his client card detail to his
merchant bank to get check the information of his card and whether they have enough balance to
pay the bill or not. Then after getting approved from the client by giving correct information
from the responsible bank, the money is deposited in the account of the merchant bank.
Merchants interact with clients and with their acquiring bank or other collection point, such as
third party payment processor. Issuers bank receives funds in exchange of prepaid balance
distributed by client.
In some cases, other intermediaries such as banks, retailers or service provider, distribute stored
value devices and balances directly to consumers. The system may include a central clearing
house or system operators. This is how the cycle of plastic money keeps going.
 Chapter-2
REVIEW OF LITERATURE

 Anoushka Sharma (AN EVALUATION OF CONSUMER PERCEPTION AND

ATTITUDE TOWARDS THE USAGE OF PLASTIC MONEY IN INDIA,
 09 ,September 2015) she noted that many consumers prefer uncollateralized credit while
purchasing when they are lack liquidity. The data collected through the source was via a
questionnaire or survey format. The questionnaire was based on a 5-Point Likert Scale.
The questionnaire was tested through a pilot study on 40 consumers. The refined
questionnaire was then sent to 300 eligible respondents To justify the objective of study
the author has applied frequency application. Her study has clearly highlighted the
advantage of instant transaction and convenience of not carrying cash and ease of
transaction that encourage the use of plastic money instead of real money.

 (Makanyeza, C., Mwedzi, T., and Mashiri, E., 2021)The objectives of the study
“FACTORS INFLUENCING MERCHANTS’ ADOPTION OF PLASTIC MONEY”
were to determine factors influencing merchants’ intention to use plastic money and to
determine the effect of behavioural intention on the actual usage of plastic money. Data
were collected from a crosssection of 173 merchants in Chinhoyi, using a structured
questionnaire. The questionnaire was distributed and self-administered. Out of the 200
distributed questionnaires, 173 were returned and usable. This gave response rate of
86.5.They found that performance expectancy and normative compliance each had a
positive effect on merchants’ behavioural intention to use plastic money.

 (Timcy Sachdeva, 2021) in their article named “Exploring plastic money usage among
women”. Stated that Plastic money is a term that is used predominantly in reference
to the hard-plastic cards we use every day in place of actual banknotes. They
examines the satisfaction level of current cardholders and inspects into present
position and future prospects of plastic money in India. The primary data were
collected through questionnaire. The scope of the study is limited to Delhi only and
within the specified time period. The data are analyzed in two stages: firstly,
exploratory factor analysis has been used to determine the factor structure of items
related to plastic money usage behavior; secondly, summated score is calculated for
resultant plastic money usage factors.
 (Garg, Prerna, June 2015) In their study “Plastic money and Consumer Attitude” said that
their main purpose of the study was to investigate consumer attitude towards the usage
of electronic purses, in Delhi region. For analysis ,they use correlation and T-test has
been applied to study the relationship between services offered and customer choice of a
credit card and to examine a significant difference in the choice of credit cards between
males & females. Since they has adopted a self-designed questionnaire as the primary
tool to collect data. The researcher concludes that there is a need for the card holders to
understand how better to utilize a credit card effectively and responsibly and also
reflected a clear relationship between services offered and customer choice of a credit
card. However the number of cards owned & frequency of usage is more in males.

 (Hasan, Syed Akif and Subhani, Muhammad Imtiaz, 2011) in their study on ‘Plastic
Money/Credit Cards Charisma for now and then’ has observed the monetary rattle
between consumption and affordability slammed the household severely for every now
and then in all spheres of life from one pole to another. Friends and Family have an
influence on the use of plastic money which is taken as a proxy of plastic money
charisma. The findings reveal that the Plastic money has a charismatic appeal as it has an
influential effect which is often endorsed by the family and friend. While, it is also
investigated and concluded that plastic money also has its usability and affordability for
the consumers.

 (Farhana Rahman Sumi , Ayesha Binte Safiullah, December ,2012) The author in their
topic “Problem and Prospect of Plastic Money in Bangladesh”. Said that plastic money is
an alternative to the cash or the standard ‘money’. Plastic Money business is definitely
going big time in Bangladesh. The Study is been carried out by taking a survey of 68
respondents by non probabilistic convenience sampling method from the city of Dhaka
by using structured questionnaire and interview technique. Their main objective is to
assess the level of adoption and use of plastic money as payment system and analyze the
factors for adoption of plastic money that replaces the paper or cash money. They
conclude that customers want to be updated about plastic money transaction should
provide receipt always and banks should reduce the transaction cost of plastic money.
 (Anisha Bisht, Praveen Nair , Rakshita Dubey, Tanu Hajela, March 2015) , this research
“Analysis of the use of Plastic Money: A Boon or a Bane”. was undertaken to study the
awareness and use of plastic money among the consumers. The sample was selected by
the Stratified Random Sampling Method and consisted of consumers including students,
working professionals, government officials, house makers and senior citizens. The
sample size selected was 200. It was found that consumers prefer plastic money over
paper money and the major benefit that the card provides to the customers is the
convenience and accessibility. Their main objective to study this topic is to awareness
and use of plastic money among the consumers and to find out the reasons for preference
of plastic money over hard cash.

 (Loewenstein and Hafalir, 2012) conducted a study on “The Impact of Credit Cards on
Spending”. The study focused on two types of customers, revolvers (who carry debt) and
convenience users, and measured the impact of payment with credit card as compared
with cash by an insurance company employees spending on lunch in a cafeteria. It was
found that there was change in the diner’s payment medium from cash to a credit card
when an incentive to pay with a credit card was given. However, the use of credit cards
has a differential impact on spending for revolvers and convenience users. Revolvers
spend less when induced to spend with a credit card, whereas convenience users display
the opposite pattern.

 (K.Neelavathi, Ramya Chavali, Uttej Rao) This study “Impact of Usage of Plastic Money
in India” presents an outline since these are introduced in Indian banking sector and also
highlights the role of those cards as electronic payment tool to be utilized by customers.
They collect their primary data by using structured questionnaire method along with
reference of secondary information from various research articles. These plastic money
and electronic payments was and used by only higher income group. Their main objective
is to understand the impact and show the result of plastic money on day to day basis.
Sample size-80 respondents Mode of data collection-Structured Questionnaire
 (Danielie di Giulio ,Carlo Milani, 22 January ,2013)This paper” Plastic Money Diffusion
and Usage” tries to contribute to the empirical literature on the European consumers’
plastic money payment habits, using the Bank of Italy data over the 1993–2008 period. In
line with other evidence on this topic, mainly focused on the US economy, they find that
age, education, non-durable consumptions, regional variation and income are strong
predictors of plastic money possession and use in Italy. They also find that households
with a higher indebtedness level have a higher propensity to hold credit cards.

 (Patil sushma, January ,2014) in her study “Impact of Plastic money in banking sector in
India” Their 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. The Study is been carried out by taking a survey of 100 respondents by non
probabilistic convenience sampling method from a city of Mumbai by using structured
questionnaire and interview technique. She also said that the customers can make use of
banking services just by owning the card issued by bank and that too without restricting
himself in the official banking hours. The objective of their study is to” development of
banking industry in plastic cards usage trends and to analyze and penetration the factors
for adoption of plastic money.

 (Nyasha Kaseke, 2012) The study “Cash or Plastic Money” investigates how consumers
use cash or plastic money in the multicurrency period. The main objective was to find out
how easy consumers found plastic money use to be, whether they liked using it and in
particular how they compared it to using cash. She also found that individual factors
such as education level and gender had a bearing on the use of plastic money. The study
also found a number of problems that were encountered by consumers in relation to
security, speed and complexity of use. A Likert scale was used in designing the
questions. A total of 200 questionnaires were personally administered to respondents. Out
of 200 questionnaires a total of 140 were selected so we can said that 70% response rate
and concluded that education level had a direct effect on the use of plastic money.
 (Amakoe D. Alognon ,Antonios M. Koumpias ,, March 2020)This paper “The Impact of
Plastic Money Use on VAT Compliance” examines the impact of the proliferation in
credit and debit card usage on consumption tax compliance using annual national level
data for 26 European Union member states from 2000 to 2016. They find that an increase
in the share of plastic money used for consumption expenditures is associated with a
significant decrease in the VAT gap. The data utilized in this study stem from several
sources and cover the period 2000 to 2016. This paper investigates the effect of payment
methods on valued-added tax compliance in EU countries. They find evidence of the
effect of credit and debit card payments on VAT compliance gap.

 (Eunicia Fernandes) in his research “A study on consumer perceptions towards plastic

money with reference to Tiswadi Taluka “. He tried understand the consumer
preferences and attitude towards the use of plastic money in Tiswadi Taluka, of Goa. The
paper is an exploratory-cum descriptive research that is primarily based on the data
collected from 100 respondents including undergraduates, government representatives,
private association workers and business persons, the majority of the respondents were
students. He is also observed that there are frauds in plastic money, some of them get
solved and some cannot be detected. His main objective is examining the awareness of
credit/debit cards for daily purpose and to identify the features/services offered which
motivates the customers .

 (Dr. Sowmya Praveen K ,Dr. C.K. Hebbar, 2021-06-15) said in their article “A STUDY
ON CUSTOMER ATTITUDE TOWARDS THE USAGE AND PROBLEMS OF
PLASTIC MONEY” that plastic money refers to the usage of plastic cards for the day to
day transactions, in the place of currency notes. There paper mainly highlights the pros
and cons of the plastic money. The study concludes that people mainly prefer Plastic
Money due to convenience, fast service and 24 hours service. The data is collected from
25 women respondents from the Mangalore City. For the collection of data, structured
questionnaires were prepared and circulated to the respondents. The statistical tools like
percentage, frequency and mean are used to inference of data.
 (Roman Ullah, Muhammad Shah Din, Zulfiqar Ali Anjum, and Abdul Latif, 1 jan ,2014)I
n their article regarding “ISSUES REGARDING PLASTIC MONEY IN PAKISTAN”
This research is based on the qualitative findings of data collected from a sample of
customers. Data analysis revealed that a large number of Pakistani customers have certain
misperceptions about Plastic Money. Lack of education, poor banking services,
electricity failure, limited options, over spending and insecurity of transactions are the
reasons having negative influences on market of Plastic Money in Pakistan. The objective
of this Research is to address those Issues which are faced by Pakistani consumers from
actively using and adopting Plastic Money. A sample of 70 individuals was selected for
interview. Sample was selected through simple random sampling method.

 (DR. ADITI R KHANDELWAL, 8 may ,2021) in her article named Customer

satisfaction while using plastic money in that payment business in India is on the verge of
revolution.  This research paper aimed to understand the fact that whether the customers
are satisfied with the usage of plastic money in their daily routine and to check the
grievances of customers for plastic money. This study is descriptive research and
empirical research in nature. Data was collected through primary sources and different
tests are applied for analysis accordingly. Sample size was taken as 150 respondents of
Jaipur. Sampling technique used is the simple random technique.
 Chapter -3
RESEARCH METHODOLOGY

3.1 Problem Identification

3.1.1 Research Problem

In a young district like Surat, this is a business hub, having ample prospect of development and
growth. In this research “A Study on Consumer Perception Towards The Use Of Plastic Money
In Vesu Area of Surat City” tells about the important component of plastic money. The
transactions are very transparent when done via technology. If you compare from the traditional
era, then now a days many people have made use of plastic money in their daily routine.
By collecting and analyzing data about the consumer perception toward plastic money, the
researcher want to do this research mainly to understand the problem related with plastic money
and mainly focusing on plastic card such as debit card and credit card in order to find out the
perception of consumers toward plastic money.

3.1.2 Problem Statement

“A Study on Consumer Perception Toward Use of Plastic Money in Vesu Area Of Surat City”

3.1.3 Some Technical Definitions used in the Report

Consumer Perception Basic:
Customer perception refers to how a customer feels about your business. This includes their
thoughts, emotions and opinions related to your brand. Customer perception can be positive or
negative or else we can say it is the way all interpret our experience. Previous experience and
learning, attitudes and interest, needs and feelings and the current situation all affect perception.
Consumer perception can determine the success or failure of a business.

Marketing:
Marketing describes how a company chooses what types of products and service offer and how it
distributes, price and promotes those product and service. Consumer perception often determine
the types of product and service companies offer.

Core Banking:
Core banking is anywhere banking with the same bank, be it any location.
For example, if you have an account with ABCD Bank LTD in the X location or branch, you can
also process your transaction in the Y location or branch. This saves on time and money for
sending the cheque for clearing to another city.

3.2 Research objective

 To identify the attitude of customer toward plastic money.
 To know their problem towards plastic money.
 To find out satisfaction level of cardholder.
 To know the factor which influence them to use plastic money.

3.3 Research Design

Research design is the plan, structure and strategy of investigation so as to obtain answer to
research questions. It is the specification of methods and procedure for acquiring the information
needed. There are 3 types of research designs:

 :In Exploratory Research design, In this it uses the ideas and thoughts of a researcher
on one subject to be guiding point for further studies .Just as the word implies, it explores
that is to find out about something by answering the question in “What” manner.
Exploratory Research does not have a formal and rigid design.

 In Descriptive Research design, It refers to the method that describe the characteristic of
the variables of certain group such as age, sex, educational level, occupation, income etc.
This is more in depth research that answered the question of “Who, What, When, Where
and How”. Descriptive Research is further divided into 2 types:
o Cross-sectional Research is a research design in which the elements of the population or
the sample are to be studied just once.
o Longitudinal Research is a research design in which the elements of the population or the
sample are to be studied repetitively over a period of time on the basis of the same
criteria.
  In Causal Research design, investigates the cause and which are the effect and second,
to determine the nature of relationship between the causal variable and the effects to be
predicted.

In this report type of research design is Descriptive – Cross sectional research design is used. To
conduct this research, descriptive research design is used to know the preferences of people
regarding usage of plastic money. It also talk about whether the usage has been increase or not

3.4 Data collection

3.4.1 Primary Data

Primary data is the data collected for the first time directly from the sources, where the data
initially originates. It can be collected in 3 methods:
 Survey: A structured questionnaire given to respondents of a population and designed
to obtain special information and insights on various topics of interest is known as a
survey.
 Observation: Observation is the systematic process of recording the behavioural
patterns of people, objects and occurrences as they are witnessed in a natural or artificial
environment.
 Experiment: Experimental studies are those wherein the researcher manipulates one or
more independent variable and measure that effect on one or more dependent variable.

For this particular research paper, the method of structured questionnaire survey method has
been used through physical form via face to face from our targeted population.

3.4.2 Secondary Data

Secondary data refers to the data that has been collected by someone other than the researcher.
Common sources of secondary data include government publications, non-government
publications, organizational records etc.
For this research, secondary data includes research papers, articles and different website for
analysis of plastic money.
3.4.3 Research Instrument
The research instrument for data collection of this paper is structured questionnaire
consisting of various questions like Dichotomous, Multiple choice Questions (MCQ), rating
Scale Questions and likert Scale Questions. The questionnaire has 2 sections: Demographic
section, consisting of 3 questions and research section, consisting of 14 questions.

3.4.4 Data Collection Period

The data collection period for this research study was from 28 February to 15 march,
making it total of 16 days.

3.5 Sampling Design

3.5.1 Target Population

The target population for this research study consisted of people living in vesu area of Surat
city of Gujarat.

3.5.2 Sampling Elements

The sampling element of this research study included people of all genders, age group of 18+
and in profession of Businessman, Serviceman/women and student who use plastic money.

3.5.3 Sample Size

Total number of elements studied is known as sampling size.
Sample size of 110 respondents out of total population has been included.

3.5.4 Sampling Area

It is a list or map or other specification of a unit which constitute the availale information
relating to the population designed for a particular sampling.
Herein, all the respondent were from Surat city.
3.5.5 Sampling Approach
There are 2 types of sampling approach:
 Probability sampling approach is one wherein all the element of the population have
an equal and unbiased chance of being selected in the sample.
 Non-probability sampling approach is one wherein all the element of the population
do not have equal chance of being selected.

In this research study, Non-probability sampling approach has been used for collecting the
data.

3.5.6 Sampling Techniques

Sampling techniques can be classified into two, under those probability and non-probability
approach. These two approaches are explained as follow:
 Probability sampling techniques include Simple Random Sampling, Systematic
Sampling, Stratified Sampling and Cluster Sampling.
 Non-probability sampling techniques include Convenience Sampling, Snowball
Sampling, Judgmental Sampling and Quota Sampling.

In this research the Convenience sampling of non-probability approach has been used for
data collection.

3.6 Data Processing

3.6.1 Data Coding

All the data collected through the questionnaire and will be analyses and coded with the help
of M.S excel.

3.6.2 Data Representation

Representation of data will be done through pie chart, bar diagram and through table.
3.6.3 Data Analysis
The data analysis of the collected data has been done using MS excel software. In this
software, only frequency tables and calculation of mean value was done.

3.7 Limitation of the Report

Although the project is done taking utmost care, certain limitation may be bound to be there
 The data collection has been done using non-probabilistic convenience sampling
technique, so the population as a whole will not be studied.
 Problem may occur during making of questionnaire as it may not be exhaustive.
 It was little difficult to get to physically meet to people.
 The respondents may fill up the form in a hurry which can lead to incorrect or biased
answers

3.8 Chapterisation of the Report

Chapter Number Chapter Name

1 Introduction

2 Review of Literature

3 Research Methodology

4 Data Analysis and Interpretation

5 Finding, Conclusion and Recommendation

Bibliography

Annexure

(Table 3.8.1 Chapterisation of the Report)