A PROJECT REPORT

ON

An Analytical study of the use of Plastic Money

SUBMITTED IN THE PARTIAL FULFILMENT OF THE DEGREE OF

BACHELOR OF BUSINESS ADMINISTRATION

AFFILIATED TO HIMACHAL PARDESH UNIVERSITY

SHIMLA

(SESSION 2018-2021)

SUBMITED TO: SUBMITTED BY:

MRS. Savita Ashish kumar

DEPARTMENT OF BBA UNIVERSITY ROLL NO- 5180310016

BBA 6TH SEMESTER

Government Post Graduate College Dharamshala

(176215)

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 DECLERATION

I, under signed hereby declare that this project report on STUDY ON USE OF
PLASTIC MONEY is record of authentic work carried out by me during the
period from 08/062021 to 13/07/2021 and has not submitted to any other university
or institution for the award of any degree/diploma etc.

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 ACKNOWLEDGEMENT

It gives me immense pleasure and privilege to acknowledge my deepest sense

of gratitude towards all those who helped me in the successful execution of this
project.

I express my sincere gratitude towards the course co-ordinator Mr …. who

entrusted me for the completion of this project.

I am highly indebted to my project guide, Mrs.Minakshi saroch whose

constructive counselling and able guidance helped me immensely in bringing out
this project in the present form. And lastly the entire faculty member and the
entire Lab staff for providing me this opportunity and expose me to industrial
culture.

The acknowledgement would be incomplete without thanking my family and

friend who were a big support throughout.

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 PREFACE

It is great opportunity for me to have the BACHELOR OF BUSINESS

ADMINISTRATION (BBA) in GOVT COLLEGE DHARAMSHALA in the
accomplishment of this degree. I am submitted a project report on “AN
ANALYTICAL STUDY OF THE USE OF PLASTIC MONEY”
In my project I have to analysis the use of plastic money like as debit card/Credit cards
etc. I have made my project with the help of primary and secondary data. After the
whole process I have observe my all data and analysis or study the use of the plastic
money.

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 Abstract

In present era, it is impossible to imagine modern bank transactions, commercial

transaction and other payments without using the plastic cards. Plastic currency is now
gradually becoming necessity across the globe as more and more developed countries
are opting for plastic money compare paper money. As there are several inherent
advantages. The growing involvement of smart phones has made technology
applications much more accessible to users. The Government also move forward for a
cashless idea. The changing technology replacing the traditional concept of playing not
through cash but by plastic money (credit and debit cards), this research is undertaken
to study the awareness, perception and benefits of plastic money among the people.
The topic AN ANALYTICAL STUDY OF THE USE OF PLASTIC MONEY has
chose for the study. In this with the help of questionnaire the data is collected including
students, working professionals, government officials, house makers etc. the sample
size selected is 50. It is found that the people prefer plastic money over paper money
and the major benefits provided by cards provides to the people is the convenience and
accessibility. They felt that cards is cheaper and convenience way of payment. They
also felt that the plastic money will penetrate in society more in future.

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 TABLE OF CONTENTS

SR NO LIST OF CONTENT PAGE

CHAPTER 1 INTRODUCTION 7 – 16

CHAPTER 2 REVIEW OF LITRATURE 17-21

CHAPTER 3 RESEARCH METHODOLOGY 22-25

CHAPTER 4 ANALYSIS AND 26- 44

INTERPRETATION OF DATA

CHAPTER 5 FINDINGS AND CONCLUSION 45- 49

ANNEXURE 1 A) QUESTIONNAIRE 52-56

B) DIFFERENT USES OF PLASTIC 57- 59

MONEY AT GLANCE (PICTURES)

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 CHAPTER 1

INTRODUCTION

INTRODUCTION

HISTORY

PLASTIC MONEY; SIGN OF MODERENISED ECONOMY

ADVANTAGES OF PLASTIC MONEY

DISADVANTAGES OF PLASTIC MONEY

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“AN ANALYTICAL STUDY OF THE USE OF PLASTIC MONEY”
CHAPTER -1

INTRODUCTION

Money is regarded as a medium of exchange and payment tool. Initially barter system was used as
the significant mode of payment. Over the years, money has changed its from coins to paper cash and
today it is available in formless form as electronic money or plastic cards. The major change in banks
which has been brought in by the technology is through introduction of products which are alternative
to cash or paper money. Plastic cards are one of those type of innovations through which 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 arts. Plastic cards are the component of e-banking
have been in use in the country for many years now.

HISTORY

With hundreds of millions of plastic cards in the circulation today, these plastic cards have Become
a way of life. India alone is home to million of them. Initially positioned as a status Symbol these
plastic cards have caught on in a big way amongst the educated population of The country. Extending
credit to their customers has always been an extremely common practice .however In the early 1940s,
when individual retail merchant in America found it more and more difficult to afford credit to these
patrons, financial institution come into the picture.

1946- The earliest plastic card was called charge – it was invented in 1946. It revolved around A
system of credit developed by john Biggins a credit consultant at Flatbush National Bank, Brooklyn
, New York . This card allowed the customers to charge local retail purchases. The Merchant
deposited the same at Biggins Bank. The bank reimbursed the merchant and collected payment from
the customer.

1951-The Franklin National Bank in Long Island New York issued the first official credit card. In
1951, a Mr. Frank McNamara had just finished dinner in New York restaurant when, to his acute
embarrassment, he discovered that he had left his wallet in another suit. While taking the restaurant
owner into letting him pay the bill the next day, an idea for a new credit card was already being
concocted in his mind. Within a few month he formed a company called Diners club and convinced
27 restaurant and 200 people to join it. By 1951 there were 42000 Diners club cards in circulation.

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1958- American express saw this as direct competition to its traveler’s cheque divison and brought
out its own charge card in 1958. Within three month they managed half a million cardholders.

1960-Bank of America introduced its own card called Bank Americard. Beginning with a small
Group of cardholders and merchants, the bank begin to license regional financial institutes to Act as
Bank Americard for their region. Bank Americard grew and in the next few years more And more
communities across the US Became serviced by a regional member.

1966- Fourteen US banks in Buffalo, New York formed Interbank –a new association on the same
Guidelines.

1967- Four California banks change their name to the Western States Bankcard association. They
opened membership to other financial institutions in the west the product called Master Charge.
Eventually all financial institutions and banks interested in issuing credit cards became Members of
either Bank Americard or Master Charge. All parties benefited from this system and Led to rapid
growth in card holder accounts, merchant accounts and sales volumes.

1977-BanKAmericard became VISA and in 1979 Master Charge became master card International.

1980- With only two players in domestic card industry, HSBC and Citibank the number swelled to
over 25 in the year 2010.

1981- credit card in India made their debut and are on the verge of an unprecedented boom.

1981-2010 the market has virtually grown to over 4 million cards with over 25-30% of compounded
annual growth in new cardholder’s base. The recent growth in the use of plastic money after 2010
mainly credit and debit cards has been Phenomenal. There are hundreds of millions of credit cards in
circulation today, these little Rectangular pieces of polymerized substance have become a way of life.
India alone is home to millions of them. Spending pattern through plastic money has changed
drastically. Travelling dining and jewellery. Are some the top purchases that Indians make through
credit cards. Few years ago it was Jewellery and apparel purchases that formed the largest chunk of
purchases through plastic Money. Fuel accounts for a very small portion of credit card purchases as
these are largely Paid through debit cards. This growing trend will soon rise up to the point where the
plastic Money will completely replace the need for carrying cash. Will this change be for good or bad
Only the future will decide. Plastic money business is definitely going big time. In a country where
a decade back people had Hardly heard the word plastic money or credit card it has been estimated
that there are likely to be around half million potential card users in the near future. This forecasting

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derives credibility from the fact that more and more local and international financial institutions are
exhibiting in enthusiasm in this direction. This intern reflects prospects in Indian market in
accommodating numerous credit cards competitors operating on the circuit, ensuring healthy and
competitive card business deals. However, the card-based usage has picked up only during the last
few years. Payment by cards is becoming a preferred mode for making retail payments in the country.
Thus plastic cards are such payment tool which gives a customer an opportunity of non-cash
payments of goods and services and are designed to facilitate small value retail payments by offering
a substitute for bank notes and coins and thus to complement traditional payment instruments. The
recent growth in the use of plastic money mainly credit and debit card has been phenomenal. After
the Demonetization by the Prime Minister Mr. Narendra Modi and his emphasis on Cashless
Transaction, initially positioned as a status symbol, these plastic cards have caught on in a big Way
amongst the educated population of the country. With the Indian economy expanding rapidly at more
than 7.5 %p.a and the middle class budding Cashless transaction in India are becoming very popular.
Generally increasing reliance on cashless transaction is seen as sign of a modern economy where
there is a strong synergy between the ordinary consumers and its financial institutions.

The plastic in the form of cards was introduced by banks in India in 1990’s. but is was not very
popular among Indian consumer at the time of its introduction. The change in demographic features
of consumers in terms of their incomes, marital status, education level etc .and up gradation of
technology and its awareness has brought the relevant changes in consumers’ preferences. These
changing preferences have also modified their outlook and decision regarding the acceptance and non
acceptance of particular product and services in the market. Thus the plastic cards are gaining
popularity among bankers as well as customers and getting accepted in the market place. It can be
well imagined from the discussion that no doubt, the plastic cards market is growing at a large pace
in India Yet it has long way to go as it lacks behind if compared to the usage trends of other countries.
Hence, it has become important that the payment system in India has to be modernized enough to be
at par with the system prevalent in other countries, since our domestic financial markets are
increasingly getting integrated with markets abroad. RBI is also taking important steps in order to
enhance its usage and popularity through initiatives like regulating card market to maintain the
security levels and to build up confidence of bankers and customers. Despite the strong advances in
e-payment, an estimated 90 percent of personal consumption expenditure in India is still made with
cash, which indicates the tremendous growth potential of this business. So this can be considered as
mere beginning which indicates the bright future prospects of plastic card market in India.

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The plastic money can be in the form of credit cards and debit cards. Debit and credit cards Offer
more than a way to access money without having to carry around cash or a bulky Checkbook. Debit
cards like digitalized versions of checkbooks; they are linked to your bank Accounts, and money is
debited (withdrawn) from the as soon as the transaction occurs. Credit

Cards are different; they offer a line of credit (i.e.., a loan ) that is interest free if monthly credit Card
bill is paid on time .Instead of being connected to a personal bank account, a credit card is connected
to the bank of financial institution that issued the card. So when you use a credit Card, the issuer pays
the merchant and you go into debt to the card issuer.

Most debit cards are free with a checking accounts at banks or credit union. They can also be used
to conveniently withdraw cash from ATMs. Credit cards have the advantage of rewards programs but
such cards often require an annual fee to use. Financial responsibility is a big factor in credit card
use; it is easy to overspend and then get buried in overwhelming credit card debt at a very high interest
rates.

Plastic Money: Sign of Modernized Economy

Money is always regarded as an important medium of exchange and payment tool. Initially Barter
system was used as the significant mode of payment. Over the years, money has changed Its form
coins to paper cash and today it is available in formless form as electronic money or plastic money
card. Hence, the major changes in banks which has been brought in by technology is through
introduction of products which are alternative to cash or paper money. Plastic cards are one of those
type of innovations. However the card- based usage has picked up only during the last five years.
Payments by cards Is now becoming a much-preferred mode for making retail payments in the
country thus, plastic Cards are such payment tool which gives a customer an opportunity of non-cash
payment of Goods and services and are designed to facilitate small value retail payments by offering
a Substitute for bank notes and coins and thus to complement traditional payment instruments.

The role of various parties involved in plastic card payment:

➢ Customer or cardholder: The authorized person holding the card and can use it for Purchase
of goods and services also.

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 ➢ Card issuing Bank: The bank or institution which issues the card to its eligible customer.
➢ Merchants: Entities which sell the goods and services to the cardholder and duly agree to
accept the card for payment.
➢ Bank card Association: The association (VISA, Master Card, American Express).

Type of plastic money:

1. Credit cards: The term “credit card” generally refers to a plastic card issued to Cardholder.
Credit card is small plastic card that is issued by financial institutions such as banks. Credit
card give customer a pre-set credit limit which he can use to pay for his purchases without
having to pay in cash or issuing a cheque. The credit limit is decide by bank or financial
institutions depending on the customer’s credit score and monthly income. As the Name
credit when one buys using card, one is buying by taking loan. One needs to pay Back later.
(there are no free lunches in life!).There is a limit to which one can buy on a credit Card. So,
even if you have only Rs 10,000 in your account but your credit limit is Rs 50,000, You are
free to spend up to Rs 50,000. You could also have Rs 1,00.000 in your account, but Your
credit limit is only Rs 50,000. You need to repay the amount bought on credit by a due date.

2. Debit card: debit card is a plastic payment card that can be used instead of cash when
Making Purchases. That deduct the money from holders account to pay for a purchase. Debit
Cards Eliminates the needs to carry cash or physical checks to make purchases, and they
also be Used at ATMs to withdraw cash. Debit cards also known as “check cards,” .debit
cards is linked to the account of the cardholder .i.e one who owns the cards. They are usually
issued by banks and financial institutions. When one use a debit card the money is
immediately deducted directly from one’s account associated with the card. One can buy
things as long as there is money in account. A debit card is a way to “pay now”. Say you
have Rs 10,000 in your account. The amount you can spend, or withdraw , through your
card cannot exceed this limit.

This comparison provides a detailed overview of what debit and credit cards are, their
types associated fees and pros and cons.

Credit card verses debit card comparison chart

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 Credit card Debit cards

About Credit card is a plastic Any time you use a debit card to buy
card/payment card. Issued for the something, money is deducted from
users that allowing the holders to your account.
purchase goods and service on
credit. And it allow you to borrow
money/funds to pay for goods and
services.
Source of fund Credit extended to you by your card Your savings, bank account or current
issuer. It gives you access to money account.
you otherwise you do not have.(like
a very short-term loan).
Spending advantage Can spend more than what you You can only spend how much you
have. have.
Who pays for the The credit card company pays the You pay for your purchase.
purchase vendor for your purchase. You pay
the credit card company.
Bill You can a bill or statement each There is no bill or statement.
month with details of the
transactions you have made.
Payment A bill needs to be paid each month There is no payment that needs to
since it is being borrowed. made since you are using your own
money.

3.Charge card : a charge card is means of obtaining a very short term loan for a purchase. It is
similar to a credit card, except that the contract with the card issuer requires that the Cardholder must
each month pay charges made to it in full there is no minimum payment .Other than the full balance.
Since there is no loan, there is no official interest. A partial payment results in a severe late free and
the possible restriction of future transaction and risk of potential cancellation of card. A charge card
carries all the features of credit cards. However, after using a charge card you will have to pay off the

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entire amount billed, by the due date. If you fail to do so, you are likely to be considered a defaulter
and will usually have to pay up a steep late payment.

4. Amex card: Amex stands for American Express and is one of the well- known charge cards. This
card has its own merchant establishment tie- ups and does not depend on the network of master card
or Visa. These cards are commonly used by the travellers to bear their expenses on their trips. Believe
it or not, most of the travellers finance their trip with their business credit cards. One of the major
reason because of which this practice has become common among the travellers to go to currency
exchange their currencies at very low rates. Therefore, when American Express was founded in 1850,
its growth was very rapid because of demand of international travellers for American Express cards.

5. Master card& Visa: A smart card is a plastic card embedded with a computer chip that Stores
and transacts data between users. This idea is associated with either value of information Or both and
is stored and processed within the card’s chip, either a memory or microprocessor. The card data is
transacted via a reader that is part of a computing system .Master cards and Visa are global non- profit
organizations dedicated to promote the growth of the card business across the world. They have built
a vast network of merchant Establishments so that customer’s world wide may use their respective
credit cards to make various purchases.

6.ATM cards: these cards are typically used at a automatic teller machines(ATMs) to withdraw Cash
, make deposits, or transfer funds between accounts. ATM card is used by inserting the Card into an
automatic teller machine and enter a personal identification number (PIN) for security. The system
checks the account for adequate funds before permitting any transaction.

ADVANTAGES OF PLASTIC MONEY:

1. Purchasing power: Credit or debit cards made easier to purchase to things. Now we don’t have
any need to carry hard cash in a large amount. Plastic money is accepted everywhere, anytime.
2. Time saving: through plastic money like credit and debit card you can purchase anything from
anywhere without spend money on fare or cash transition. Just provide your card Details to
seller store or companies and finalize your order. Now you don’t have need to Worry about
time wastes. Use internet for minimum time consuming.
3. Extra safety :while you are not carrying cash, how can it be lost? But if your card has Lost,
just contact your bank or financial institution, which provide you cards. It will Block the
account and nobody can draw a single coin without your permission. So it is 100% safe without
any tension.

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4. Provide credit facility: Plastic money also provides credit facility. With the help of Credit
cards you can purchase goods and services on credit the advantage of having This facility is
that you need not go behind people to borrow money in case of emergencies, instead, you can
use the card and you get money in your hands. This factor one of the main reasons why people
are attracted towards credit cards.
5. Tracking transaction becomes easy: By using the plastic money you are automatically
keeping a track of all your transaction. You can verify it later if required. When we are using
bank notes, we might forget later for what we spend it, unless you have habit of noting down
every cash transaction you make. This is not the case with plastic cards.
6. Convenience of making payments from home: In olden days when there was no plastic
money, we need to go personally to each place to make a payments. But now you can pay at
your own convenience sitting at home with the use of plastic money.
7. Is internationally acceptable: One of the main advantages of plastic money is that the same
card can be used locally as well as internationally. For example, you can get rid of the hassle
of converting the cash into the currency of the country you are planning to travel. If you have
an international debit or credit card, you can make your purchases with that card itself.

DISADVANTAGES OF PLASTIC MONEY:

1. Just plastic money won’t help always: Plastic money is not a complete replacement of cash.
in certain places, we need cash itself. while buying fish from the market or when paying to
newspaper boy. We need cash itself as they do not carry POS machine to swipe the plastic
money.
2. Plastic Money is also not 100% safe: There is certain amount of risk involved in transaction
which involves plastic money as well. Especially when doing online shopping. We are
exchanging details relating to our card over the internet which is not always a safe place.
3. Minimum purchase requirements : One of the major disadvantages of using Of plastic
money is that one needs to make minimum purchase in order to swipe their Card.
4. Service charge in certain cases: When we are using plastic money instead of Cash in certain
cases the bank charges a service charge for the purchase of certain items.
5. Card too can get damaged: Imagine a situation where in you have made a purchase and
when at the counter you realize that your card is damaged or when trying to swipe the
transaction is not getting proceed. Due to some chip error or damage.

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6. Interest for non-payment: A credit card allows you to purchase today and pay for at a later
period of time. It gives you a credit period, but if we fail to make the Payment within due date,
interest will charged. When we are using cash, we are not taking any credit from bank, hence
non-payment does not occur.

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 CHAPTER 2

REVIEW OF LITRATURE

Review of Literature

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A number of studies have been done regarding the Plastic Card usage. Following are a few of
Them:-

1. Hirschman 1982; Jonker 2005;-We complement our analysis of payment behaviour with
qualitative data on payment attribute perceptions. Perceptions - or perceived differences in
payment attributes - have been found to be important determinants of consumer payment
behaviour

2. Feinberg Richard A. (December 1986). 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. The major problem according to them is the increased transactional costs and
unnecessary formalities to procure the cards from the financial institutions. They felt that the
future of plastic money is bright and according to them, the next thing to come via technology
would be the use of digital signatures.

3. Brito and Hartley (1995) indicate that the cost of paying interest on credit card debt is likely to
be lower than the transaction costs associated with arranging loans from banks or other financial
institutions.

4. Telyukova and Wright (2005) and Zinman (2007) show that consumers maintain balances in
their low-interest-bearing bank accounts for liquidity reasons, even while carrying high-interest
credit card debt. The authors suggest that a rational consumer may pay interest on credit card
debt to avoid some of the expected costs associated with not holding precautionary or
transactions balances.

5. Zinman (2007a) and Klee (2006) have shown that individuals who carry revolving credit card
balances are significantly more likely than convenience users to adopt debit.

6. Mandeep Kaur and Kamalpreet Kaur(2008), in their article, “Development of Plastic Cards
Market: Past, Present and Future Scenario in Indian Banks” conclude that Indian banking sector
is accepting the challenge of information technology as all the groups of banker shave now
recognized it as essential requirement for their survival and growth in future despite the strong
advances in e-payments, an estimated 90 percent of personal consumption expenditure in India
is still made with cash which indicates the tremendous growth potential of this business. So this
can be considered as mere beginning which indicates the bright future prospectus of plastic card
market in India.
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7. Alvares, Cliford (2009)The article reports on the problem regarding fake currency in India. It
is said that the country's battle against fake currency is not getting easier and many fakes go
undetected. It is also stated that counterfeiters hitherto had restricted printing facilities which
made it easier to discover fakes. According to chief economist Soumendra K. Dash, the solution
to the problem is to provide people incentive to use plastic cards and make cashless transactions.

8. In this Project, we revisit the contents and method of Keynes’s Indian Currency and
Finance(1971a). By focusing on the rationale of his proposal for a new international monetary
system combining cheapness with stability, we argue that Keynes’s analysis of monetary
developments in Asia in the first years of the twentieth century may provide useful hints for an
overall rethinking of the major faults of today’s Bretton Woods II system.(2010–11)

9. Subhani in 2011 conducted a study on ‘Plastic Money/Credit Cards Charisma for Now and
Then’. The study was based to find out the charisma of plastic money, its usability and
affordability and its impact on its preference to use. The research found that the preference to
use of plastic money/ credit card has its pros and cons with its usability and affordability.
According to the consumer behaviour, plastic money is a form of conditioning and acts as a
stimulus which qualifies a consumer to spend. The study shows that the preference to go for
plastic money has a positive association with the easy use of plastic money because the precept
of credit card usability is linked with a psychological phenomena that people are likely to spend
less with credit card and spend more with the same amount of cash on hand in the same budget
and this precept also linked with the consumer self convenience, i.e. convenience and easy use
which delvesin to spending.

10. Khurana, Sunayna1,Singh, S. P.( 2011 )In today's busy world, nobody has the time to withdraw
money from the bank account for shopping. Everybody is interested In carrying the plastic
money (credit card and debit card) in their wallet for shopping as it gives convenience, safety,
easiness and even style .In this cutthroat competition ,banks have to work hard to gain market
share and to meet the expectations of customers so that they can delight their customers. This
study is carried out to identify customer preferences and expectations from credit/debit card
services. The main objective is to identify the factors that influence the choice of credit cards,
customer satisfaction, and consumer behavior regarding the credit card in Tier-III cities.
Primary data was collected from 200 respondents by the questionnaire method .Results show
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 that the choice of credit cards depends upon income, gender and profession of the respondent
.Customer satisfaction depends upon income, frequency of usage in a month and amount of
usage per month.

11. Loewenstein and Hafalir in 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 (who do not carry debt), 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. It was then found out that
credit cards do not increase spending. 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.

12. Bansi Patel and Urvi Amin (2012)in their research paper “Plastic Money : Road may Towards
Cash Less Society” discussed that now days in any transaction Plastic money Becomes
inevitable part of the transaction and with it life becomes more easy and development would
take better place and along with the plastic money it becomes possible that control the money
laundry and effective utilization of financial system would become possible which would also
helpful for tax legislation.

13. P Manivannan (2013) in his research paper “Plastic Money a way for cash Less Payment
System” examined that Plastic Money i.e. usage of Credit card was measured a luxury ,and has
become needed. These plastic money and electronic payments was and used by only higher
income group. This facility extended not only to customers in urban areas or cities, but also to
customers residing in rural area. However, today, with development of banking and trading
activity, the fixed income group or salaried classes are also start using the plastic money and
electronic payment systems and particularly Credit cards.

14. Vimala V. and Dr. Sarala K.S., (2013).” Stressed on the Usage and perception of plastic money
among the customers of BOI” with emphasis of the awareness level, perception and usage of
new innovative services in regards to plastic money.

20
15. Sushma Patil, 2014 Anupama Sharma (2012)in her research paper “Plastic card frauds and
the countermeasures :towards a safer payment mechanism” have thrown light on number of
frauds increased considerably in the usage of plastic cards as in case of plastic card frauds the
most affected parties are the merchants of goods and services as they have bear the full liability
for losses due to frauds, the banks also bears some cost especially the indirect cost whereas the
cardholder are least affected because of limited consumer liability and concluded that all these
losses can be dealt with making the prudent use of the new technology and taking the respective
counter measures.

16. Tabrez Haq and Bushra Malik, (2014)” consumer response towards the usage of plastic
money” with emphasis on increase of shift of plastic money in India by consumers from credit
cards to debit cards- The distribution of plastic money has increased due to the fact that
banking sector has become more aggressive. Moreover, duplication of the users is an important
area of concern for the industry which can exaggerate the number of active users. The present
paper makes an attempt to understand the affect effects of recession on plastic money industry
and its impact on consumer preferences. The paper duly investigates the acceptability of the
cards among the Indian consumer and the factors influencing the card choice.

CHAPTER 3

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 RESEARCH METHODOLOGY

OBJECTIVE OF THE STUDY

SCOPE OF THE STUDY
LIMITATION OF THE STUDY
RESEARCH DESIGN
SAMPLE UNIT
SAMPLE SIZE
SAMPLE TECHNIQUE
DATA SOURCES

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 RESEARCH METHODOLOGY

Objectives of the Study

➢ Primary objectives -
❖ To know the perception of people towards plastic money.

➢ Secondary objectives -
❖ To know the importance of the plastic money in the daily life of investors.
❖ To study the benefits of debit card and credit cards.
❖ To know the problems faced by respondents using plastic money.
❖ To study the satisfaction level for plastic money on investment purpose.

Scope of study

The study and analysis of the use of plastic money concentrates on the plastic money and types of the
plastic money such as credit cards, debit cards and other cards also. This study cover the use of plastic
cards by cardholders and it also identified that how much people and investors use cards for payment
mechanism. It also ensures that how much people are aware about plastic money and how much are
not. Now days the plastic money play a significant role in the life because now things become modern
and now the people thinks that cashless transaction are more suitable and convenient way of
payments. Credit cards and debit cards are more usable card than others. Now it becomes a part of
daily life.

Limitation of the study

• In my research I have prepared a structured questionnaire so it becomes hard to give the time for
my study by respondents so I have to manage according to their time.

• Some of the respondent responses are different from actuality as they are feeling of their resources
and because of threat of leak of their personal information.

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• The respondents fill the questionnaire according to their mood and time so it become difficult to
get responses on time.

Research design

A research design is typically include how data is to be collected, what instrument is to be collected,
what is to be employed, how the instrument to be used and the intended means for analyzing data
collected. A research design is a framework or plan for the study which is used as guide in collecting
and analyzing the data collected. The basic objectives of the research cannot be attain without proper
research design. So it is important for the research.

The research was an exploratory followed by descriptive one because the entire project was based on
questionnaire and analysis which is of exploratory nature followed by the detailed description and
analysis so the project is of descriptive design also.

The nature of the study was statistical pertaining actual field conditions. The reason for using this
type of data is, qualitative research provide insights and understanding of Problem setting while
quantitative research seeks to quantify the data and typically applies some form of statistical
analysis.

Sample Unit
Friends and relatives who are known to me because of coronavirus pendemic I am not able to go
outside that’s why I made online questionnaires and get responses.

Sample Size
Total sample size =50

24
Sampling Technique
Sampling technique is the process of selecting a representative group from the population under
study. A sample is a group of people who take part in the investigation. The people who take part are
referred to as “participants”.
• I use convenience sampling of non-probability sampling method of sampling, it is the easiest
method, because participants are selected based on the availability and willingness to take part.

• I used variety of graphs with the help of graphs I become able to represent the data which is
collected from the online questionnaire.

• In graphs I use line charts, bar graphs etc.

Data Sources

Primary Sources: This data include both qualitative and quantitative data. Data were generated
through online questionnaire as a research instrument.

Research Approach: survey method

Type of Questionnaire: structured

Type of Questions: Open- ended and close- ended Questions.

Secondary sources: The data is collected from Internet, Reports, Articles and Websites.

25
 CHAPTER 4

ANALYSIS AND INTERPRETATION OF DATA

26
 Analysis and interpretation of data

Table 1: plastic card is the most convenient way of paying

Response Number of Respondents

STRONGLY AGREE 17
AGREE 32
DISAGREE 1

STRONGLY DISAGREE 0

Figure 1 plastic cards is the most convenient way of paying

X -axis: response; Y-axis: No. of respondents

Interpretation:

The response obtained for the question “plastic card is the most convenient way to Paying.” has been
presented in the table above. From the table it is evident that 17 respondents strongly agreed to the
point, 32 respondents agreed to the point, 1 respondent disagreed to the point while 0 respondents
strongly disagreed to the point.

27
Table 2 Plastic card is the most preferred way to pay your utility Bills

Response No. of Respondents

STRONGLY AGREE 16
AGREE 29
DISAGREE 5
STRONGLY DISAGREE 0

Figure 2 plastic card is the most preferred way to pay utilities bills
X –axis : response Y-axis No. of respondents

Interpretation:
The response obtained for the question “ Plastic Card is the most preferred way to pay your utilities
Bills “ has been presented in the table above. From the table it is evident that 16 respondents strongly
agreed and, 29 respondents agreed at this point. And 5 respondents disagreed while 0 respondents for
strongly disagree. People normally don’t prefer to carry large amount of cash these days while
travelling. It is neither convenient nor safe. When the respondents were asked about their preference
to pay through plastic cards while travelling, the response were as follows.

28
Table 3 while travelling, plastic card is the preferred way of payment

Response No. of Respondents

STRONGLY AGREE 13
AGREE 28
DISAGREE 9
STRONGLY DISAGREE 0

NO. OF RESPONDENTS

30

20
STRONGLY AGREE
10
AGREE
0 DISAGREE
STRONGLY STRONGLY DISAGREE
AGREE
AGREE DISAGREE
STRONGLY
DISAGREE

Figure 3 while travelling, plastic card is preferred way of payment

X –axis: response Y-axis : No. of respondents

Interpretation:

The response obtained for the question “ While travelling, plastic card is the preferred way of
payment” has been presented in table above. From the table it is evident that 13 respondents strongly
agreed to the point, 28 respondents agreed to the point, 9 respondents disagreed to the point while 0
respondents strongly disagreed to the point. one myth associated with the plastic cards is that they are
not safe- the user’s account can be hacked. This is not true. Plastic cards have different layers of
securities as per need and cannot be easily misused.

Through the above tables the first and third objective of to know the perception of investors
/people& objective of the benefits of debit and credit cards completed over here.

29
 Table 4 Use of plastic money is safest mode of transactions

Response No. of Respondents

STRONGLY AGREE 13
AGREE 29
DISAGREE 8
STRONGLY DISAGREE 0

Figure 4 use of plastic money is the safest mode of transaction

X –axis : response Y-axis No. of respondents

Interpretation:

The response obtained for the question “ Use of Plastic Money is the safest mode of transaction ” has
been presented in table above. From the table it is evident that 13 respondents strongly agreed to the
point, 29 respondents agreed to the point, 8 respondents disagreed to the point, 0 respondents strongly
disagreed to the point. This finding clearly reveals the fact that the people are not fully aware of the
security Procedure associated with the use of Plastic Cards. When the people were asked if they think
that plastic cards can be misuse.

30
 Table 5 Misuse of plastic Card is the reason you don’t opt for Plastic Money

Response No. of Respondents

STRONGLY AGREE 3
AGREE 21
DISAGREE 23
STRONGLY DISAGREE 1

Figure 5 Misuse of plastic cards is the reason you don’t opt for the plastic money

X –axis : No. of respondents ; Y-axis : response

Interpretation:

The response obtained for the question “ Misuse of Plastic Cards is the reason you don’t opt For the
Plastic Money” has been presented in table above. In this question I received 48 responses out of 50
so analysis is based on 48 responses. From the table it is evident that3 respondents strongly agreed at
the point, 21 respondents agreed to the point, 23respondents disagreed to the point while 1 respondent
strongly disagreed to the point.

Through above tables 4th objective, the problem faced by investors /people are concerned in
which the objective of problem faced by people is completed over here.

31
 Table 6 Credit Card are expensive as many other charges are charged on it

Response No. of respondents

STRONGLY AGREE 5
AGREE 25
DISAGREE 19
STRONGLY DISAGREE 0

X – axis : response ; Y –axis : No. of respondents

Interpretation:

The response obtained for the question “credit card are expensive as many other charges are charged
on it” has been presented in the table above. In this question I received 49 responses out of 50 so
analysis is based on 49 responses. From the table it is evident that 5 respondents strongly agreed to
the point. 25 respondents agreed to the point, 19 respondents disagreed to the point, while 1
respondent strongly disagreed to the point.

Some companies offer incentives like discount, cash back etc. when the purchase us done through
plastic money .When the respondents were asked their opinion about this following was the response
obtained:

32
 Table 7 Plastic card is cheaper

Response No. of Respondents

STRONGLY AGREE 6

AGREE 29

DISAGREE 13

STRONGLY DISAGREE 1

Figure 7 plastic card is cheaper

X axis – Response ; Y axis – no. of Respondents

Interpretation:

The response obtained for the question “ Plastic Card is cheaper” has been presented in the table
Above. In this question I received 49 responses out of 50 so analysis is based on 49 responses. From
the table it is evident that 6 respondents strongly agreed to the point. 29 Respondents agreed to the
point, 13 respondents disagreed to the point while 1 respondent strongly disagreed to the point.

Table 8 The use of Plastic money is beneficial

33
 Response No. of Respondents
STRONGLY AGREE 16
AGREE 31
DISAGREE 3
STRONGLY DISAGREE 0

Figure 8 the use of plastic money is beneficial

X – axis Response ; Y-axis – No. of Respondents

The response obtained from the question “ the use of plastic money is beneficial ”has been Presented
in the table above. From the table it is evident that 16 respondents strongly agree to the point, 31
respondents agree to the point, 3 respondents disagree at this point while 0Respondents strongly
disagree at this point.

The respondents are susceptible about the reliability of the Plastic money. Generally people have the
notion that the use of the plastic money is not safe as the account can get hacked.

Through above tables the 3 objective of the benefits of credit cards and debits card is completed
over here.

Table 9 Plastic Money is considered as more reliable and secured

34
 Response No. of Respondents
STRONGLY AGREE 13
AGREE 33
DISAGREE 4
STRONGLY DISAGREE 0

NO. OF RESONDENTS
35

30

25

20 STRONGLY AGREE

15 AGREE
DISAGREE
10
STRONGLY DISAGREE
5

0
STRONGLY AGREE DISAGREE STRONGLY
AGREE DISAGREE

Figure 9 Plastic Money is considered as more reliable and secured

X-axis – Response ; y-axis – No. of Respondents

Interpretation:

The response obtain for the question “ Plastic Money is considered as more reliable and secured” has
been presented in the table above. From the table it is evident that 13 respondents strongly agree to
the point. 33 respondents agree to the point, 4 respondents disagree to the point while4 respondents
strongly disagree to the point.

With the recent advancements in Technology. Duplicate money is posing a great problem for the
Common man. When the respondents were asked if Plastic money can be a replacement of paper
Money, the following response is obtained:

Table 10 Due to Duplicity of paper money you are shifting to plastic money

35
Response No. of Respondents
STRONGLY AGREE 13
AGREE 21
DISAGREE 13
STRONGLY DISAGREE 1

NO. OF RESPONDENTS
25

20

15
STRONGLY AGREE
10
AGREE
5 DISAGREE

0 STRONGLY DISAGREE

STRONGLY
AGREE
AGREE DISAGREE
STRONGLY
DISAGREE

Figure 10 due to duplicity of paper money you are shifting to plastic money

X- axis –Response; Y-axis No. of Respondents

Interpretation:

The response obtain for the question “ Due to duplicity of paper money you are shifting to plastic
Money ” has been presented in the above. In this question I received 48 responses out of 50 so
analysis is based on 48 responses. From the table it is evident that 13 respondents strongly agree to
the point, 21 respondents agree to the point, 13 respondents disagree to the point while 1 respondent
strongly disagree to the point. It means that plastic money is not consider an alternative to paper
money.

After the Demonetization in November 2016, the changes of penetration of Plastic money circulation
have increased many folds. When the respondents were asked for their opinion.

Table 11 plastic money will penetrate in society more in future

36
 Response No. of Respondents
STRONGLY AGREE 12
AGREE 32
DISAGREE 5
STRONGLY DISAGREE 0

Figure 11 plastic money will penetrate in society more in future

X –axis – response; Y-axis No. of respondents

Interpretation:

The response obtained for the question “ plastic money will penetrate in society more in future” has
been presented in table above. In this question I received 49 responses out of 50 so analysis is based
on 49 responses. From the table it is evident that 12 respondents strongly agreed to the point,32
respondents agreed to the point, 5 respondents disagreed to the point while 0 respondents strongly
disagreed to the point.

When our P.M Mr. Narendra Modi, came up with the idea of Demonetization, one of the primary
objective of his move was to throw black money out of the circulation by this move. Time will tell,
how much this move was successful. I tried knowing people’s opinion about this and

Table 12 credit card /debit card transaction in country over cash transaction will help to curb
Black money circulation in economy
37
 Response No. of Respondents

STRONGLY AGREE 15
AGREE 27

DISAGREE 8
STRONGLY DISAGREE 0

Figure 12 credit card / debit card transaction in country over cash transaction will help to curb Black
money circulation in economy

X –axis – response; Y-axis No. of respondents

Interpretation:

The response obtained for the question “credit card/debit card transaction over cash Transaction in
country will help to curb black money circulation in economy ” has been Presented in table above.
From the table it is evident that 15 respondents strongly agree to the Point, 27 respondents agreed to
the point, 5 respondents disagreed to the point while 0 Respondents strongly disagreed to the point.

Table 13 If you are financial minister of the country, will the country see increase use of Plastic
Money
38
Response No. of respondents

STRONGLY AGREE 14

AGREE 31

DISAGREE 5

STRONGLY DISAGREE 0

Figure 13 If you are financial minister of the country, will the country see increase use of plastic
Money

X –axis – response; Y-axis –No. of respondents

The response obtained for the question “If you are financial minister of the country, will country See
increase use of plastic money” has been presented in table above. From the table it is evident that 14
respondents strongly agreed to the point,31 respondents agreed to the point, 5 respondents disagreed
to the point while 0 respondents strongly disagreed to the point.

Table 14 More Credit Card/Debit Card transaction in country over cash transaction will help
to solve the problem of corruption in the economy

Response No. of Response

39
 STRONGLY AGREE 17
AGREE 26
DISAGREE 7
STRONGLY DISAGREE 0

NO. OF RESPONDENTS

30

25

20

15

10

0
STRONGLY AGREE DISAGREE STRONGLY
AGREE DISAGREE

Figure 14 more credit card/debit card transaction over cash transaction will help to solve the problem
of corruption in economy

X- axis; response; Y-axis : No. of respondents

Interpretation:

The response obtained for the question “More credit card/debit card transaction in country over Cash
transaction will help to solve the problem of corruption in the economy” has been presented in table
above. From the table it is evident that 17respondents strongly agreed to the point, 26 respondents
agreed to the point, 7respondents disagreed to the point while 0 respondents strongly disagreed to the
point. Initially when the plastic cards were introduced, they were considered as a symbol of High
Socio Economic Status, but now every one of 10 persons holds plastic card. When the respondents
were asked about their opinion pertaining to this scenario was as under:

Table 15 Plastic Card is regarded as a symbol of High Socio Economic Status

Response No. of Respondents

STRONGLY AGREE 10

40
 AGREE 24
DISAGREE 15
STRONGLY DISAGREE 0

Figure 15 Plastic Card is regarded as symbol of High Socio Economic status

X – axis; response Y-axis No. of respondent

Interpretation:

The response obtained for the question “Plastic Card is regarded as a symbol of High Socio Economic
Status” has been presented in table above. In this question I received 49 responses out of 50 responses
so analysis is based on 49 responses. From the table it is evident that10 respondents strongly agreed
to the point, 24 respondents agreed to the point, 15respondents disagreed to the point while 0
respondents strongly disagreed to the point.

Table 16 Plastic Cards lead to Over Consumption and Spending

Response No. of Respondents

41
 STRONGLY AGREE 8
AGREE 27
DISAGREE 13
STRONGLY DISAGREE 0

Figure 16 Plastic Cards lead to over consumption and spending

X –axis : response Y-axis : No. of respondents

Interpretation:

The response obtained for the question “Plastic Cards lead to over consumption and spending” has
been presented in table above. In this table I received 48 responses out of 50 responses so analysis is
based on 48 responses. From the table it is evident that 8 respondents strongly agreed to the point, 27
respondents agreed to the point, 13respondents disagreed to the point while 0 respondent strongly
disagreed to the point.

Through above tables the 2nd and 5th objective of satisfaction and importance of plastic money
on investment purpose is fulfilled. And also problems are also concerned over here.

Table 17 Plastic Money can be carried and kept easy and has more life

42
 Response No. of respondents

STRONGLY AGREE 19

AGREE 27

DISAGREE 4

STRONGLY DISAGREE 0

Figure 17 plastic Money can be carried and kept easy and has more life

X –axis; response Y-axis; No. of respondents

Interpretation:

The response obtained for the question “Plastic Money can be carried and kept easy and has more
life ” has been presented in table above. From the table it is evident that19 respondents strongly
agreed to the point,27 respondents agreed to the point, 4 disagreed at the point, while 0 strongly
disagreed at the point.

Table 18 will you prefer to pay by Plastic Money

43
 Response No. of respondents
STRONGLY AGREE 21
AGREE 26
DISAGREE 2
STRONGLY DISAGREE 1

NO. OF RESPONDENTS

30

25

20
STRONGLY AGREE
15 AGREE
DISAGREE
10
STRONGLY DISAGREE
5

0
STRONGLY AGREE DISAGREE STRONGLY
AGREE DISAGREE

Figure 18 will you prefer to pay by plastic money

X –axis: response Y-axis : No. of respondents

Interpretation:

The response obtained for the question “will you prefer to pay by Plastic Money” has been presented
in table above. From the table it is evident that 21 respondents strongly agreed to the point,26
respondents agreed to the point, 2 respondents disagreed to the point while 1 respondents strongly
disagreed to the point.

Through these above tables the objective about perception of people, their satisfaction level, the
benefits of cards, and problem faced by using plastic money all the objectives the completed.

44
 CHAPTER 5

FINDING AND CONCLUSIONS

FINDINGS

45
Convenient way of payment

• Plastic Money like credit and debit cards are convenient way of payment

• It takes less time for payments. Easily you can do payments.

• While travelling, it is the most preferred way of payments.

Plastic money will help to crab black money

43 respondents out of 50 respondents agreed that using plastic money will help to crab black
money as each transaction will be having the record with a mere swipe so that no corruption
or misfeasance will take place in all the cash or any kind of transaction of goods services or
money.

➢ Frequency of customers to visit the banks has become less.

➢ The use of plastic cards has also been increased because banking industries has also

provided the 24 *7customer service for their customers.

➢ Plastic money also help in the cashless policy or digital India.

➢ Subsidy is electronic transaction can also lead the usage of plastic Money.

➢ People are agreeing to that plastic money can be kept easy and has more life.

➢ Plastic Money helps to promote the cashless policy and being digital.

➢ Safety in plastic money is an important factor that induces its usage.

When I receive all the questionnaire results I find that the precaution to be adopted are don’t
share otp, ATM Card no, cvv no. with anyone beware of fraud calls also. Don’t share your pin
with anyone. And when doing online transaction use a secure network and make a strong
password for net banking and change it frequently. And don’t save your ATM password on
any website. And respondents also ask that carefully check out the site where you are doing
online transaction and you should always read the reviews of that site. And you should also
verify the transaction before payment. So these are some precautions suggested by all
respondents while using ATM cards and also doing online transaction.

46
Recent developments in the use of plastic money in India

Leading transformation of economy

Through the use of plastic money it leads to transformation in the economy. The plastic Money plays
a significant role in the life of people as well as economy of the country because the more use of the
plastic money leads to transformation and change in the economy.

Moving towards cashless economy

Through the more use of plastic money the economy moving towards cashless economy which is
very important now days being cashless and used plastic money instead of paper money. It helps to
move cashless.

India's e-commerce market expands

India's digital commerce market is also expands through the use of plastic money, so basically plastic
cards plays an important role in e-commerce as well with online travel the biggest segment in terms
of revenue generation, according to the Internet and Mobile Association of India.

Number of internet in India are increasing

The rise of e-commerce in India, along with the increase in Internet users and growing smart phone
sales, has made banks realize how online transactions will play an integral role in their credit and
debit card business.

Conclusion

47
Looking at the broad scenario, there is no doubt that the plastic money is rising up in the market. The
day will come when all transaction will be done through plastic money. Yet There are more further
technologies which have been implemented in Japan and US but India is still growing in its first
phase. The day will come when all the train tickets would be purchased by credit cards. People will
start keeping bunch of cards in their pockets instead of cash. The day will come when the cinema
tickets will be purchased through credit cards. Thus in these growing phenomenon there doesn’t
seem any declination instead it growing at a higher rate. Consumer are preferring these cards mostly
for shopping online E-commerce has given a better way to use the plastic money. It can be concluded
that plastic money has a bright future in the coming year because of increasing trend of E-commerce.
21ST century banking has become wholly customer driven &technology driven by challenges of
Competition, rising customer expectation &shrinking margins, banks have been using technology to
reduce cost &enhance efficiency, productivity & customer convenience. Technology intensive
delivery channels like net banking mobile banking Google pay, phone Pay BHIM and all other type
of services provided to customer where customer can do online Transactions and online payments
through these apps also checking all the transaction in their own phone without going anywhere. So,
basically it also saves our time and everyone can use these platforms easily. Talking about my study
there is problem because of lockdown, we are not allowed to go outside So I made questionnaire on
my phone and send it to my friends and relative with that I collect 50 responses. I find, out of 50
responses 49 people know about the plastic money like debit cards and credit cards. It means the
awareness about debit card credit cards ATM etc. are increasing day by day. And 35 respondents
have ATM cum debit card 6 have credit cards 8 have both the cards debit and credit cards. There is
only 1 candidate which have no card. So with this data we also conclude/ find that the use of plastic
cards increased day by day.

48
 Suggestion

On the basis of analysis, the following suggestion can be given to increase the usage of plastic cards:

1. It is found that there are still some people who don’t prefer to pay bills by plastic cards. In this
changing scenario of today where everything is going paperless and cashless there is great need to
educate and motivate the people to pay bills by plastic money.

2. Safety in the plastic money is the important factor that induces its usage. Multiple Level of
security should be insured like password, OTP (one time password), use of S http ( secured sites )
instead of http etc.

3. Transaction charges on online transaction should be waived off to induce the people to use plastic
cards more.

4. Subsidy on electronic transaction can also lead to increase usage of plastic money.

5. People should be motivate to make more use of plastic cards while travelling. Travel Companies
can give discounts to lure the customer to make use plastic cards.

REFERENCES

49
1. Hirschman, E. 1982. “Consumer Payment Systems: The Relationship of Attribute Structure to
Preference and Usage.” Journal of Business 55:531–545. Jonker, N. 2005. “Payment Instrument
as Perceived by Consumers A Public Survey.”Mimeo.
2. Feinberg Richard A. (December 1986). “Credit Cards as Spending Facilitating Stimuli: A
Conditioning Interpretation Journal of Research (Volume 13)
3. Brito, D., and P. Hartley. 1995. “Consumer Rationality and Credit Cards.” Journal of Political
Economy 103:400–433.
4. Telyukova, I., and R. Wright. 2005. “A Model of Money and Credit with Application to the Credit
Card Debt Puzzle.” Mimeo
5. Zinman. Klee, E. C. 2006. “Families Use of Payment Instruments During a Decade of Change in
the U.S. Payment System.” Board of Governors of the Federal Reserve System. Finance and
Economics Discussion Series 2006-01
6. Mandeep Kaur and Kamalpreet Kaur(2008), “Development of Plastic Cards Market: Past, Present
and Future Scenarioin Indian Banks”, Asia-Pacific Business Review, Vol. IV, No.4, pp. 62-74,
ISSN: 0973-2470
7. Alvares, Cliford, Business Today; 3/8/2009, Vol. 18 Issue 5, p24-24
8. Journal of Post Keynesian Economics winter 2010–11, Vol. 33, No. 2255 © 2011 M.E.Sharpe,
Inc
9. Dr. Subhani Muhammad Imtiaz, (2011). “Plastic Money/Credit Cards Charisma for Now and
Then”, European Journal of Scientific Research (Vol.62.No1,pp.123- 127)
10. Khurana, Sunayna1,Singh, S. P.IUP Journal of Bank Management; Feb2011, Vol. 10Issue 1, p71-
87
11. Loewenstein George and Hafalir Elif Incekara, (2012).”The Impact of Credit Cards on spending
for revolvers and convenience users” Carnegie Mellon University, Tepper School of Business
(JELcodes:C9,D1)
12. Bansi Patel and Urvi Amin (2012), “Plastic Money: Roadmay Towards Cash Less Society”,
Paripex Indian journal Of Research, Vol. 1, No. 11, ISSN-2250-1991
13. Manivannan ,P. (2013), “Plastic Money a way for cash Less Payment System”, Global Research
Analysis journal, Vol. II, No. I Jan 2013 • ISSN No 2277 – 8160.
14. Vimala V. and Dr. Sarala K.S., (2013).”Usuage and perception of plastic money among the
customers of BOI”. Asian Journal of Research in business Economics and Management (Vol. 3,
Issue 4, pp 24-37) 45
15. Anupama Sharma (2012), “Plastic card frauds and the countermeasures: Towards a safer payment
mechanism”, International Journal of Research in Commerce, It & Management, Vol. 2, No. 4.
50
16. Tabrez Haq and Bushra Malik, (2014).”Consumer response towards the usage of plastic money”
International Journal of Multidisciplinary Research (Vol.4, Issue 5, pp 93-102)

ANNEXURE
Questionnaire

51
 “An Analytical study of the use of Plastic Money”

The question given below relate to the minor research project on the above subject. Kindly corporate
by answering the questions given below: I assure you that your answer will be kept confidential.

General information

Name: ………………………………………………………………………………………………

Age: ………………………………………………………………………………………………

Address: …………………………………………………………………………………………

Phone number: …………………………………………………………………………………

Occupation: …………………………………………………………………………………….

Gender: ………………………………………………………………………………………………

Questionnaire

Q.1 Do you know about plastic money like debit card and credit card

Yes No

52
Q .2 you have any type of plastic money

Yes No

If yes which type of plastic money you have

ATM cum debit cards Credit cards Both Other (please specify )

Q .3 Plastic cards is the most convenient way of paying

Strongly agree Agree Disagree Strongly disagree

Q .4 Plastic card is most preferred way to pay your bills

Strongly agree Agree Disagree Strongly disagree

Q .5 While travelling, plastic card is the preferred way of payment

Strongly agree Agree Disagree Strongly disagree

Q .6 Use of plastic card is safest mode of transaction

Strongly agree Agree Disagree Strongly disagree

Q .7Misuse of plastic card is the reason you don’t opt for plastic money

Strongly agree Agree Disagree Strongly disagree

Q .8 credit card are expensive as many other charges are charged on it

Strongly agree Agree Disagree Strongly disagree

53
Q .9 Plastic card is cheaper

Strongly agree Agree Disagree Strongly disagree

Q .10 The use of plastic money is beneficial

Strongly agree Agree Disagree Strongly disagree

Q .11 Plastic money is considered as more reliable and secured

Strongly agree Agree Disagree Strongly disagree

Q .12 Due to duplicity of paper money you are shifting to plastic money

Strongly agree Agree Disagree Strongly disagree

Q .13 Plastic money will penetrate in society more in future

Strongly agree Agree Disagree Strongly disagree

Q .14 Credit card / Debit card transaction in country over cash transaction Will help to curb
black money circulation in economy

Strongly agree Agree Disagree Strongly disagree

Q .15 If you financial minister of the country will you see increase use of Plastic money.

Strongly agree Agree Disagree Strongly disagree

54
Q .16 More credit card/ debit card transactions in country over cash transaction will help to
solve the problem of corruption in the economy

Strongly agree Agree Disagree Strongly disagree

Q .17 Plastic card is regarded as a symbol of high socio economic status

Strongly agree Agree Disagree Strongly disagree

Q .18 Plastic card lead to over consumption and spending

Strongly agree Agree Disagree Strongly disagree

Q .19 Plastic money can be carried and kept easy and has more life

Strongly agree Agree Disagree Strongly disagree

Q .20 Will you prefer to pay be plastic money

Strongly agree Agree Disagree Strongly disagree

Q .21 Precaution to be adopted while using ATM cards

55
Q .22 Precaution to be adopted while doing online transaction using cards

Different uses of plastic money at glance

56
57
58
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