what are the different forms of plastic money
Answers
Answer:
5 different kinds of plastic money
Credit card
Cashless payment with a set spending limit
Payment takes place after the purchase
Great flexibility thanks to installment facility
Most well-known credit cards: American Express, MasterCard, Visa
Charge cards
Cashless payment without a set spending limit
Payment takes place after the purchase
No credit or installment facility
Most well-known charge cards: American Express, Diners Club
Debit card
Card is directly linked to the cardholder’s bank account
Transaction is debited immediately from bank account
No credit or installment facility
Most well-known debit cards: Maestro, Postcard
Customer card/store card (PLCC)
Card with payment and credit function
Can only be used at specific retailers
Well-known customer cards: myOne, Globus, Media Markt
Prepaid card/gift card
Card is topped up with credit before use
No credit or installment facility
Open system (American Express, Visa, MasterCard) or closed system (can only be used at specific retailers)
Plastic money is a term that is used predominantly in reference to the hard plastic cards we use everyday in place of actual bank notes. They can come in many different forms such as cash cards, credit cards, debit cards, pre-paid cash cards and store cards