Plastic money analysis of data ?
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Analysis of the use of plastic money: A boon or a bane
Anisha Bisht*, Praveen Nair *, Rakshita Dubey*, Tanu Hajela *
*MBA students of Symbiosis Institute of Management Studies, Symbiosis International University, Pune
Abstract
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 awareness and use of plastic money among the consumers. The topic that was hence
chosen for this research is “Analysis of the use of Plastic Money: A Boon or a Bane”. The
sample was selected by the Stratified Random Sampling Method and consisted of consumers
including students, working professionals, government officials, house makers and senior
citizens. The sample size selected was 200. 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.
Objectives
1. To study the awareness and use of plastic money among the consumers
2. To study consumers’ reasons for preference of plastic money over hard cash
Keywords:
Debit card, credit card, plastic money, paper money, transactions, and financial institutions
Introduction
Plastic money is a very recent context replacing the traditional concept of paying though
cash. Plastic money is a term coined keeping in view the increasing number of transactions
taking place on the part of consumer for paying for transactions incurred by them to purchase
goods and services physically and virtually. It includes credit cards, debit cards, pre paid
balance cards, smart cards etc. In our study, we are typically focussing only on credit cards
and debit cards in order to find out the effectiveness of such cards in real life and consumers
perceive them. Also we would try to find out the specific areas that consumers prefer to
spend more through these cards and which out of the two do they prefer for payment.
Analysis of the use of plastic money: A boon or a bane
Anisha Bisht*, Praveen Nair *, Rakshita Dubey*, Tanu Hajela *
*MBA students of Symbiosis Institute of Management Studies, Symbiosis International University, Pune
Abstract
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 awareness and use of plastic money among the consumers. The topic that was hence
chosen for this research is “Analysis of the use of Plastic Money: A Boon or a Bane”. The
sample was selected by the Stratified Random Sampling Method and consisted of consumers
including students, working professionals, government officials, house makers and senior
citizens. The sample size selected was 200. 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.
Objectives
1. To study the awareness and use of plastic money among the consumers
2. To study consumers’ reasons for preference of plastic money over hard cash
Keywords:
Debit card, credit card, plastic money, paper money, transactions, and financial institutions
Introduction
Plastic money is a very recent context replacing the traditional concept of paying though
cash. Plastic money is a term coined keeping in view the increasing number of transactions
taking place on the part of consumer for paying for transactions incurred by them to purchase
goods and services physically and virtually. It includes credit cards, debit cards, pre paid
balance cards, smart cards etc. In our study, we are typically focussing only on credit cards
and debit cards in order to find out the effectiveness of such cards in real life and consumers
perceive them. Also we would try to find out the specific areas that consumers prefer to
spend more through these cards and which out of the two do they prefer for payment.
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