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    Presented By: Abhimanyu Manish Vivek

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    abhimanyu patel
    Plastic money such as debit cards, credit cards, and smart cards were introduced in the 1950s as a more convenient way to pay for goods and services than cash, and have now become an essential form of digital payment. Plastic money offers advantages like convenience, credit building, and rewards programs, but also risks like debt and damage to credit scores if not paid on time. The document further describes the different types of plastic money like debit cards, credit cards, smart cards, and their features and uses.

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    Presented By: Abhimanyu Manish Vivek

    Uploaded by

    abhimanyu patel
    51 views17 pages
    Plastic money such as debit cards, credit cards, and smart cards were introduced in the 1950s as a more convenient way to pay for goods and services than cash, and have now become an essential form of digital payment. Plastic money offers advantages like convenience, credit building, and rewards programs, but also risks like debt and damage to credit scores if not paid on time. The document further describes the different types of plastic money like debit cards, credit cards, smart cards, and their features and uses.

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    plastic machine

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    Plastic money such as debit cards, credit cards, and smart cards were introduced in the 1950s as a more convenient way to pay for goods and services than cash, and have now become an essential form of digital payment. Plastic money offers advantages like convenience, credit building, and rewards programs, but also risks like debt and damage to credit scores if not paid on time. The document further describes the different types of plastic money like debit cards, credit cards, smart cards, and their features and uses.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    51 views17 pages

    Presented By: Abhimanyu Manish Vivek

    Uploaded by

    abhimanyu patel
    Plastic money such as debit cards, credit cards, and smart cards were introduced in the 1950s as a more convenient way to pay for goods and services than cash, and have now become an essential form of digital payment. Plastic money offers advantages like convenience, credit building, and rewards programs, but also risks like debt and damage to credit scores if not paid on time. The document further describes the different types of plastic money like debit cards, credit cards, smart cards, and their features and uses.

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    Plastic money

    Presented by:
    Abhimanyu
    Manish
    Vivek
    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

     Debit card
     Credit card
     Global card
     Smart card
     Photo card
     Charge card
    Debit card
    Debit cards are upgraded atm cards
    branded with Visa, MasterCard, or other
    familiar credit cards company logo. They
    look exactly like credit cards except
    directly tap your checking account every
    time when you make a purchase or
    withdrawal.

    They are easier, more convenient ,less


    burdensome and offer greater access to
    your money than do checks ,ATMs, or
    credit cards. They are descendents of ATM
    cards that came in early 1980.
    USE OF DEBIT CARDS

     Debit cards can be used almost everywhere –


    retail stores, gasoline stores, restaurants etc in
    the either of the following ways:
    Without Personal Identification Number.(PIN)

    ●
    Offline Transaction

    With Personal Identification Number.

    ●
    (Online Transaction)
    WITHOUT PIN

    CREATE A
    MERCHANTS DEBIT
    IDENTIFIES
    TERMINAL AGAINST
    IT AS A
    READ THE CUSTOMER
    DEBIT CARD BANK
    CARD
    ACCOUNT
    WITH PIN

    ●
    INSERT THE CARD IN THE MACHINE

    STEP# 1
    Types of credit cards.

     Standard credit card:

     Credit limit is fix.

     Person have to pay min amount in end of


    month
    Premium credit card

     Gold and platinum card.

     Gives extra services and incentives like


    reward points.

     Charge higher interest than standard credit


    cards
    Charge credit card:

     No credit limit.

     customer have to pay full amount in end of


    month
    Photo card

     If your photograph is imprinted on a card,


    then you have what is known as a photo card.
    Doing this helps identify the user of the credit
    card and is therefore considered safer.
    Besides, in many cases, your photo card can
    function as your identity card as well.
    Global card

     Have the features of credit card

     Can be used across the globe

     Much in trend replacing travellers’ card


    Smart card

     Contains electronic chip


     Useful for small purchase like bus fares,
    coffee etc.
     No identification, signature or payment
    authorization required
     Currently used in very developed countries
    Master Card or Visa

     Global non profit organization


     Dedicated to promote the growth of card
    business across the world
     Vast network of merchant establishments
     Allows the merchants to send transactions to
    the banks
     POS Machine and functioning

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