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    Plastic Money

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    Ajazsolkar
    Plastic money refers to payment methods like debit cards, credit cards, and smart cards that are made of plastic rather than paper currency. It was introduced in the 1950s as a more convenient way to pay for goods and services without carrying large amounts of cash. Plastic money offers advantages like free use of funds if balances are paid on time, convenience over cash, and ability to build credit history. However, it also has disadvantages like high costs if not paid on time, potential damage to credit rating from late payments, and allowing users to take on more debt than they can handle. There are different types of plastic money including credit cards, debit cards, charge cards, co-branded cards, and smart cards issued by

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    Plastic Money

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    Ajazsolkar
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    Plastic money refers to payment methods like debit cards, credit cards, and smart cards that are made of plastic rather than paper currency. It was introduced in the 1950s as a more convenient way to pay for goods and services without carrying large amounts of cash. Plastic money offers advantages like free use of funds if balances are paid on time, convenience over cash, and ability to build credit history. However, it also has disadvantages like high costs if not paid on time, potential damage to credit rating from late payments, and allowing users to take on more debt than they can handle. There are different types of plastic money including credit cards, debit cards, charge cards, co-branded cards, and smart cards issued by

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    14469919 Plastic Money

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    Plastic money refers to payment methods like debit cards, credit cards, and smart cards that are made of plastic rather than paper currency. It was introduced in the 1950s as a more convenient way to pay for goods and services without carrying large amounts of cash. Plastic money offers advantages like free use of funds if balances are paid on time, convenience over cash, and ability to build credit history. However, it also has disadvantages like high costs if not paid on time, potential damage to credit rating from late payments, and allowing users to take on more debt than they can handle. There are different types of plastic money including credit cards, debit cards, charge cards, co-branded cards, and smart cards issued by

    Copyright:

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    Download as PPT, PDF, TXT or read online from Scribd
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    Download as ppt, pdf, or txt
    3 views18 pages

    Plastic Money

    Uploaded by

    Ajazsolkar
    Plastic money refers to payment methods like debit cards, credit cards, and smart cards that are made of plastic rather than paper currency. It was introduced in the 1950s as a more convenient way to pay for goods and services without carrying large amounts of cash. Plastic money offers advantages like free use of funds if balances are paid on time, convenience over cash, and ability to build credit history. However, it also has disadvantages like high costs if not paid on time, potential damage to credit rating from late payments, and allowing users to take on more debt than they can handle. There are different types of plastic money including credit cards, debit cards, charge cards, co-branded cards, and smart cards issued by

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    of 18

    TOPIC:- PLASTIC MONEY

    Presented By:Jyoti (Group Leader) , Surinder Kumar(group coordinator) Vishal Beri Kuljinder Kaur, Mandeep kaur, Vikas Sharma. .

    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

    Different types : Credit card Debit card Charge card Amex card Master card & Visa Smart card Dinner club card Photo card Global card Co-branded card

    Credit card:-

    HOW TO OPERATE CREDIT CARD?

    Major Banks issuing Credit Card in India: State Bank of India credit card (SBI credit card) Bank of Baroda credit card (BOB card ) ICICI credit card HDFC credit card IDBI credit card

    Debit Card:-

    Charge card

    Amex card

    Smart card :-

    Cutting E dge 2005 works hop, IIT Kanpur

    S mart Cards: T echnology for S ecure Management of Information


    Rajat Moona Computer Science and Engineering IIT Kanpur
    moona@iitk.ac.in

    Photo card:-

    Global card:-

    Co-branded card:-

    MASTER CARD & VISA:-

    DINER CLUB CARD:-

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