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verybody has talked about the checkless,

TO BANKIN

G SYSTEMas
hitherto untouched. Apart from their

traditional business orientedanized sector consists of Commercial banks, Co-

operative banks andpting of deposits from the publiceation of creditnding

of fundsof cheque systemmittanc e of fundency functionsneou s functions or

general utility function

PLASTIC MONEY

CHAPTER 2DESIGN

OF STUDY

OBJECTIV E OF STUDY

The object of this research is:

To study the convenience of plastic money in recent era.

To identify the factors which affect the status of paper money andincreasing the usage of

plastic money & why the plastic money usage hasincreased

To study the safety of plastic money.

HYPOTHE SIS

People are more cautious in money matters. People have changed their attitude

towards plastic cards.

SCOPE OF THE STUDY

The study concentrates on the different types of plastic money in brief.

Itconcentrates more on credit card, debit card and ATM cards. The project coversthe

impact of plastic money and also the increasing use of plastic money inIndia
6

PLASTIC MONEY

LIMITATI ONS

I have restricted my

project on Plastic Money to credit card, debit cardsand ATM cards only

It has been restricted to the extent of individuals only.

Survey has been

conducted on micro level basis to know the preferencesof plastic money.

Only 25 customers of different banks have been considered for undertakin

g the study and the findings of the study have been listed out.

METHODO LOGY

Primary study has been undertaken on micro level basis on focusing onlya

few individuals.

Secondary data is collected by undertaking extensive library research

aswell as from various websites and books.

7
PLASTIC MONEY

CHAPTER 3AN OVERVIE W ON

PLASTIC MONEY
Look in your wallet. If you are like an average

middle-class, living in ametropolitan you probably must have at least one thin plastic card

that you useto pay for things at many merchants. Take out one of those cards. The card

you picked is about 3

3/8

long, by 2
1/8

wide, weighs about a fifth of

an ounce, has amagnetic stripe on the back and has a 13 to 16 digit account number

embossedon the front. It is called a payment card. Once cardboard, now plastic, the

carditself may become an anachronism.T he plastic note is same as paper but the only difference

is that they aremade of plastic. They are more secured as compared to that of paper

notes.In traveling and shopping people used to carry huge cash which was

muchunsecure d and also increasing crime rate. Then the cards were introduced in

theworld to resolve the issue of carrying huge cash. These cards are known

asPlastic Money. The usage of plastic money (Cards) has increased in the mode of payment of

huge amount and time by time there are lots of different types of plastic money

introduced which enhanced the features of plastic money like wecan use it anywhere in

the world and etc. Now the world is getting globalized soevery card is accepted everywhere

with the power of VISA which interconnectthe different countries.

8
PLASTIC MONEY

In the last half of the twentieth century, payment cardscredit, debit, andcharge

cardshave quietly revolutionized how we pay for goods and services.It is increasingly

common to find merchants who do not take cash or cheques,and increasingly rare to find

merchants who refuse payment cards.Payment cards have also revolutionized how we coordinate the

timing of when we purchase goods and services and when we pay for them. The popular media

often focus on how credit cards is making it much quicker and easier to borrow,

encourage people to spend beyond their means and get mired in debt.Although

removing the hassle from the process of borrowing has allowed some people to borrow too

much, credit cards have enabled many more of us toachieve a better standard of

living. The millions of people who finance purcha ses on credit cards want to enjoy life

earlier than their current incomesand savings permit. Credit cards enable them to do so.Payment

cards can save cardholders time. Different studies providediffere nt estimates of

how long it takes people to pay with various paymentinstru ments at the counter. And

as we are all aware, there is a lot of varianceacross merchants depending on their particular

equipment and setupnot tomention their clerks. There is agreement that credit cards are faster than

checks, but there is disagreement as to how much faster.The answer will almost

certainly vary by retail category and other variables. One industry source suggests that the

difference in favor of cards is aslarge as fifty-six seconds. Whether cards are as fast as

cash is also a matter of dispute. To use cash, of course, requires spending some

time getting it. This iseasier today with the proliferation of ATM machines and cards, but for

the cardindustrys first few decades it required trips to the bank

window. Time savings

9
PLASTIC MONEY

of only a few seconds per transaction

become worth quite a bit when billions of transactions are involved.

CHAPTER 4HISTOR Y OF PLASTIC MONEY

The manner in which people pay each other has seen few revolutions asfundamental as the spread

of electronic money. Emoney has altered how we pay for things: most of us now use

plastic cards and their digits for many of our daily purchases. And it has altered when

we pay for things: most of us defer some payments until our monthly charge or credit bills

arrive, and many of usfinance some purchases over time. History teaches us how significant

both of these transformations have been. The Evolution of Money Perhaps the only more

fundamental development in the history of moneyis the birth of money itself. Long before credit

cards and checks, people foundways to pay for things they wanted. Cash, Check, or an Ox?

For many millennia, people bartered twenty of my arrows for two of your

bushels of wheat; six of your vases for two of my loincloths. Ascivilization developed,

people discovered the convenience of a unit of account,launch ing the first major

transformation in the development of money as ameans of exchange and a store of

value. Over the next centuries, and today,money is still being transformed, but always

with a focus on improving itsconvenience and usability as a unit of account, a means of

exchange, and a store

10

e. The Iliad and the Odyssey, which appear

to reflect customs arounde, although a fine unit of account, it wasnt aians,

building on a millennia-old tradition of using precious metal for oducing physical

money, processing checks, or keeping the books for

Doc1 Final Plastic Money d
Info and Rating
Follow Jeetu Verma

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Download this Document for FreePrintMobileCollectionsReport Document This is a private document.

Sections
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CHAPTER 1 INTRODUCTION TO BANKING SYSTEM CHAPTER 2 DESIGN OF STUDY CHAPTER 3 AN OVERVIEW ON PLASTIC MONEY CHAPTER 4 HISTORY OF PLASTIC MONEY CHAPTER 5 E-COMMERCE, E-PAYMENTS, AND M- COMMERCE CHAPTER 6 TYPES OF CARDS: CHAPTER 7 CREDIT CARDS CHAPTER 8 DEBIT CARDS CHAPTER 9 ATM CARD

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