Introduction to Plastic Money

Plastic money refers to the use of credit and debit

cards as a convenient form of payment for goods
and services. It has revolutionized the way people
handle transactions and manage their finances.
 Definition of Plastic Money

Plastic money encompasses any form of payment that is not made with physical cash. This includes
credit, debit, and prepaid cards, as well as digital wallets and other electronic payment systems.

Convenient
Eliminates the need to carry cash and allows for quick and easy transactions.

Electronic
Relies on electronic systems for authorization and processing of payments.

Diverse
Includes various types of payment methods beyond traditional credit and debit cards.
 TYPES OF PLASTIC MONEY

Plastic money comes in different forms to suit the needs and preferences of consumers,
including credit cards, debit cards, prepaid cards, digital wallets, and mobile payment apps.

CREDIT CARD
Allow users to borrow money up to a certain credit limit and repay it over time .

DEBIT CARD
Draw funds directly from the user’s bank account at the time of transaction.

DIGITAL WALLET
Store multiple payment methods and offer convenience for online and in-store purchases.
 Advantages of Using Plastic Money

Using plastic money offers numerous benefits, including convenience, security, better expense
tracking, access to credit, and the ability to earn rewards such as cashback and travel points.

CONVENIENCE
Eliminates the need to carry physical cash and allows for quick and contactless transactions.

SECURITY
Reduced risk of loss or theft compared to carrying large sums of cash.

REWARDS
Opportunity to earn cashback, points, or miles for every dollar spent.
DISADVANTAGES OF USING PLASTIC MONEY

Despite its benefits, plastic money also comes with drawbacks, such as the potential for
overspending, high-interest rates on credit cards, exposure to fraud and identity theft, and the risk
of accumulating debt.

OVERSPENDING
Easier to lose track of expenses and exceed budget limits.

HIGH-INTEREST RATE
Accruing interest on unpaid credit card balances can lead to financial strain.

IDENTITY THIEFT
Exposing personal and financial information to potential hackers and scammers.
 FUTURE TRENDS IN PLASTIC
MONEY
The future of plastic money involves continuous innovation, such as the integration of
contactless technology, biometric payments, block chain-based transactions, and the expansion
of digital currencies, all aimed at enhancing security and convenience for consumers.

CONTACTLES
S BIOMETRIC DIGITAL
TECHNOLOG PROCESS CURRENCIES
Y
 CONCLUSION

Plastic money has transformed the way individuals

and businesses manage financial transactions, offering
unparalleled convenience and efficiency. While it
presents risks, continuous technological advancements
and stringent security measures are shaping the future
of digital payments.
THANK YOU