Plastic money is term coined keeping in view the increasing number of transactions taking place on the part of consumer for paying for transaction incurred by them to purchase goods and. Money acts as a medium of exchange as its generally accepted. The plastic money generally a credit or debit card with a magnetic strip many people carry in their wallets or purses is the result of complex banking process. Textbook of plastic and reconstructive surgery ucl press. An abstract on plastic money pdf download by sasidhar karetimarch 01, 20 0. International journal of multidisciplinary research vol. Debit card, credit card, plastic money, paper money, transactions, and financial institutions introduction plastic cards have been a very recent substitution of the normal method of paying through paper money. Bank money, or broad money m1m2 is the money created by private banks through the recording of loans as deposits of borrowing clients, with partial support indicated by the cash ratio. Charge cards laid the groundwork for debit and credit cards. However, plastic money has its share of issues that one must be careful about. Its a further erosion of our once proud and unique currency.
The availability of plastic cards with every account holder has changed the definition of banking in recent time. 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. One of the more disruptive changes to plastic money came with the adoption of chip and pin technology. The idea of plastic money was first introduced in canada in 1996. Found a link between the diffusion of plastic money and reductions in the demand. As someone who remembers the 10 bob note red, it was i lament the introduction of plastic money. India will make debit and credit cards irrelevant, says head of policy thinktank a man puts his debit.
Holders of a valid card have the authorization to purchase goods and services up to a predetermined amount. The economic benefits of recycling and waste reduction. These cards mainly just kept customers loyal to the company. Importance of plastic money for the economy 1409802 plastic money has revolutionised the economy. Apart from withdrawing money on an atm or transacting on a point of sale pos in a retail. Plastic money its technical and monetary importance educba. Plastic money is referring to the credit cards or the debit cards that we use to.
Pdf analysis the use of plastic money in hyderabad city. With a history of plastic money, you cannot ignore charge cards. This is a pre copyedited, authorproduced pdf of an article accepted for. The entry of private players and adoption of information technology have brought transformation in the way financial. According to the telegraph, since then, other countries including, papau new guinea, romania, new zealand, and vietnam have also introduced plastic cash. This system has become a standard with credit and debit cards, and is preferred to the magnetic stripe. I use it mainly for making online payments and mobile recharges. Plastic money definition of plastic money by the free. On the payment of money, purchase of goods and services can be made i.
Companyissued charge cards can be found as far back as the early 1900s. Money one of the most important factor for living life. Vishal project plastic money credit card debit card. Now, people can remotely access their money through these plastics. This is a precopyedited, authorproduced pdf of an article accepted for. There have been experiments with plastic money before now. Plastic money ppt plasticmoney orientation elements. The issuer of the card grants a line of credit to the. Plastic money refers to the use of credit or debit cards as an alternative for cash in making payments for goods and services. Like conventional money, plastic money can function as a medium of exchange, a unit of account and a store of value.
Total procedures 2016 2017 % change overall volume % change for average surgeon estimated number of plastic surgeons 43. The paper evaluates the issues and challenges of plastic money usage in india. European union ambassador to zimbabwe phillipe van damme said the country had a multicurrency regime including euros and the availability of the currency would be dependent on nostro accounts cover. Money bifurcates buying and selling activities separately so it facilitates the exchange transactions. Credit cards debit cards term plastic money definition. How did all start, in history you might have learnt batter system where goods were traded for goods, then came an era where gold and silver coins came into being, then we modernized we stared using paper notes and coins for trading of goods and services. They were concerned about an increase in counterfeiting with the release of colour photocopiers that year. Chip and pin technology makes cards much more secure and personal information is very hard to steal because of the encrypted chip. Credit card is a small plastic card that is issued by financial institutions such as banks. Plastic money a way forward for cash less transactions. Dissertation on factors behind use of plastic money. Great britain announced that after 300 years of cottonbased notes, they will begin their switch to plastic currency beginning. Plastic money definitely provides an alternative in some cases and compliments cash as a medium.
The queues are a constant reminder that despite the increase in the use of plastic money, the demand for cash will still be there. Plastic money also keeps track of the transactions as they are incurred along. Money is a current medium of exchange in the form of coins and banknotes. Studycopter is the best way to get your best possible score on exams such as ibps po, clerk, so, ssc, rrb, sbi and gmat. All the way from raw materials, via the biggest bubble in the world, through to laser etching and printing, this video covers the entire production process. A study on the importance and popularity of plastic money. Money can only be valued in the shaded region where b b0. It is meant to the used in place of coins and banknotes for the purpose of making electronic payments of small amount fsa, 2001. Keeping in mind the changing technology replacing the traditional concept of paying not through cash but by plastic money credit and debit cards, this research was undertaken to study the. The purpose of this paper is to apply unified theory of acceptance and use of technology 2 to determine factors influencing acceptance and use of plastic money in zimbabwe. As the history of money tells, the first people who are known to have used coins as money were the lydians this coin type, made of a gold and silver alloy, was in all likelihood the worlds first, minted by king alyattes in sardis, lydia, present day turkey, c. Plastic money definition and meaning collins english.
Chargit chargit was the first actual bank card and was issued in 1946. To study consumers reasons for preference of plastic money over hard cash keywords. Random selection of consumers was done in order to ensure a. Written by experts from londons renowned royal free hospital, textbook of plastic and reconstructive surgery offers a comprehensive overview of the vast topic of reconstructive plastic surgery and its various subspecialties for introductory plastic surgery and. Money is an officiallyissued legal tender generally consisting of notes and coin, and is the circulating medium of exchange as defined by a government. Holiday crafts, kids crafts, crochet, knitting, dolls, rubber stamps and much more. Pdf plastic money of bangladesh marufa tania academia. Free plastic canvas patterns at free crafts network free crafts projects. Mavinaman 20 suggested that plastic money generally a credit or debit card with a magnetic strip many people carry in their wallets or purses is the result of complex banking process. All debit cards, credit cards, forex cards,prepaid cash cards,store cards which use in place of bank notes or actual currency for promoting digital transaction is known as plastic currency. Peter, a young mba graduate joins a large software firm as a business development executive. Legal tender, or narrow money m0 is the cash money created by a central bank by minting coins and printing banknotes. It allows its holder to buy goods and services based on the holders promise to pay for these goods and services.
Pdf in order to have smooth transactions in business specially in banking. Affordable and search from millions of royalty free images, photos and vectors. Plastic money was pioneered in australia in 1988 and this video takes a look inside the australian mint to see how it is produced. Meaning and definition of plastic money stored value card debit. Zimbabwe had no access to plastic money facilities and therefore transacted mainly using cash and mobile money. A credit card is a thin rectangular slab of plastic issued by a financial. People prefer plastic money in the form of various cards than paper money. The economic benefits of recycling and waste reduction wastewise case studies from 3 a brief look at the economics of recycling while mandatory recycling has been the law in new jersey since 1987 there are still some businesses and organizations.
Plastic pollution introduction in the time it takes for me to read this sentence, more than 5,300 pounds of plastic will have entered the worlds oceans. Money is anything that is generally acceptable as a means of exchange, and in the settlement of debts. Money is anything that is generally acceptable as a means of payment. Powerpoint presentation on money, paper money, plastic. This was largely due to lack of plastic money facilities among rural service providers, lack of adequate knowledge on importance of plastic money, low income levels and lack of confidence in the overall financial system. Technological advances in electronic recordkeeping have made credit cards as ubiquitous as cash as means of payment in many economies. Consumers acceptance and use of plastic money in harare. Was it plastic money, plastic food, the decaying inner cities. A study on the importance and popularity of plastic money in aluva doi. Britains new plastic money can survive a washing machine. The term plastic money refers to the use of technology to facilitate digital transactions that can be conveniently carried out without having to visit the banks every time. Plastic money in a very recent context replacing the traditional concept of paying through cash. Plastic money includes atm cards, credit cards, debit cards etc.
The polymerbased note can survive a washing machine and a plate of curry. Generic term for all types of bank cards, credit cards, debit cards, smart cards, etc. Meaning and definition of plastic money free download as word doc. Does it make sense to introduce children to plastic money. Holders of a valid card have the authorization to purchase goods and services. Buy products related to plastic money products and see what customers say about plastic money products on free delivery possible on eligible purchases. There are many offers specially reserved for online payments. Plastic money or polymer money, made out of plastic, is a new and easier way of paying for goods and services.
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