A

PROJECT REPORT
ON
“ANALYSIS ON PLASTIC MONEY OR DIGITAL
FINANCE INDUSTRIES”
A Research report submitted in partial fulfillment of the requirement of
Bachelor of Business Administration (BBA)
Submitted To

Maharshi Dayanand University, Rohtak

Batch 2020-23

Under the Guidance of Submitted by

Ms. Kusum Ahlawat Kajal Singh
Asst. Professor Roll No. 206017
Global Institute of Technology and Management BBA 6th Semester
Farrukh Nagar, Gurugram

GLOBAL INSTITUTE OF TECHNOLOGY AND MANAGEMENT

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Farrukh Nagar, Gurugram, Haryana

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 Acknowledgement

A Project report is never a sole product of one person, whose name appears on the cover. I consider it a
privilege to acknowledge the contribution of all helping hands for their cooperation and guidance that
enabled me to dedicate time and effort in framing my analysis in conceivable system.

I extend my deepest thanks to my mentor and guide, Ms. Kusum Ahlawat, Professor and Advisor, Global
Institute of Technology and Management, for giving me the opportunity to understand the project and for
providing me the necessary information whenever required. Without her constant guidance and feedback, I
would have never been able to complete this project.

A Special thanks to all faculty members, Global Institute of Technology and Management, whose consistent
support and cooperation showed the way towards the successful completion of the project.

(Kajal Singh)
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 DECLARATION

I, Kajal Sing , Roll NO. 206017, B.B.A. (6th Semester) of Global Institute of Technology
and Management, Gurgaon, hereby declare that the Project Report entitled “Analysis on
Plastic Money” is my original work and the same has not been submitted to any other
institute for the award of any other degree.

(Kajal Singh)
Signature of Candidate
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 CERTIFICATE BY THE GUIDE

This is to certify that the contents of this research report entitled “Analysis on Plastic
Money” by Kajal Singh Roll No. 206017 submitted to Ms. Kusum Ahlawat for the Award of
Bachelor of Business Administration (BBA 6th Semester) is original research work carried
out by his under my supervision.
This report has not been submitted either partly or fully to any other University or Institute for award
of any degree or diploma.

Ms. Kusum Ahlawat,

(Asst. Professor)
Global Institute of Technology and Management

Date:
Place:
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 TABLE OF CONTENT
Declaration
Acknowledgement
Certificate by guide

Page No.
CHAPTER: 1 INTRODUCTION 6-26
❖ Introduction of the Study 7-8
❖ Conceptualization of the frame work 9-17
❖ Industry Profile 18-21
❖ Company Profile 22-26

CHAPTER: 2 REVIEW OF LITERATURE 27-32

❖ Review of Existing Literature 28-32

Chapter: 3 RESEARCH METHODOLOGY 33-38

❖ Significance of the Study 34
❖ Objectives of the Study 35
❖ Focus of the Study 36
❖ Research Methodology 37
❖ Limitations of the Study 38

CHAPTER: 4 DATA ANALYSIS AND INTERPRETATION 39-75

❖ Analysis and Interpretation 40-75

CHAPTER: 5 RECOMMENDATION 76-84

❖ Findings 77
❖ Suggestion and conclusion 78-79
❖ References 80
❖ Annexure 81-84
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Bibliography
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 CHAPTER 1

INTRODUCTION
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 INTRODUCTION
Money is regarded as a medium of exchange and payment tool. Before money people
acquired an exchange goods through a system of bartering which involve the direct trade of
goods and services. Over the years money has change its form from coins to paper cash and
today it is available in formless form as electronic money or plastic money. The major
changes in banks which has been brought in by the technology is through introduction of
products which are alternative of paper money then plastic cards are the one of those types of
innovations through which the customers can make use of banking services just by owing the
card issued by bank and that too without restricting himself in the official banking hours.
They are come in different types of form such as credit cards, debit cards, cash cards, pre-
paid cash cards and store cards. Plastic cards are the component of e-banking have been in
use in the country for many years now.
Plastic money may refer to the use of plastic cards like debit/credit cards in the form of
electronic transactions keeping in mind the need of the customer while making the large
transactions so that they don’t keep actual paper money with them. Various forms of plastic
money include debit cards, credit cards, Money access cards, client cards, key cards, and
Cash cards. The purpose of using these cards is only for the ease of customers so that they
can make large transactions and also for their own safety.

History of Plastic Money

The first card was introduced in the year 1967 by Barclays in London followed by Chemical
Banks in New York in the year 1969. The major significant event was the introduction of a
magnetic stripe along with personal identification numbers.
Another significant event in the history of plastic money was the introduction of a hardware
security module in order to make secure payments by using microprocessor technology in the
year 1973. After this smart cards were introduced in the late 1970s and came in demand
during the mid-1980s.

Various Types of Plastic Money

Different types of cards on the basis of use are listed below:

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Debit Card: When a transaction is made from a debit card, the funds are withdrawn directly

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 from the user’s bank account. Debit is the most common type of plastic money used by
people. The majority of transactions are made while online shopping and ATM cash
withdrawal. Credit Card: While using a credit card users can withdraw money or borrow
according to their limit. These cards are issued mostly by the bank but also from various non-
financial institutions.
Charge Card: Users with charges are required to clear their balance shown in their statement
within the given time limit issued to them. It can be considered a short-term loan.
ATM Card: These cards are used to withdraw money from the Automated Teller Machine or
ATM. ATM cards can be separately issued or a debit card can also be used as an ATM card.
The above mentioned are the major types of cards commonly used. Apart from these, other
types are listed below:
❖ Stored Value Card
❖ Fleet Card
❖ Gift Card
❖ Digital Currency
Store Card issued by any particular company to make transactions at their places only.

The plastic money can in the form of Credit cards and Debit cards.

What is debit card?

Debit card is the payment card that deducts money from the directly from the consumers
checking account when it is used. It is also known as the check cards or bank cards we can use
it to buy goods or services. Debit cards eliminate the need to carry cash or checks to make
purchase and they can also be used in ATM to withdraw cash. Debit card purchases can be
made with or without a personal identification number (PIN). Debit card also offer the
convenience or credit cards and many of the same consumer protections when it is issued by
the major payments processors like VISA and Master Card. Like credit cards they did not
allowed the users to go into the debt except for small negative balance that might be incurred
if the account holder has sign up for overdraft coverages. However the debit cards usually
have the daily purchase limits it may not be possible to make an especially large purchases with
a debit card.
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 Example of typically debit card ( front side)

1. is the bank logo

2. Is the EMV CHIP ( commonly known as the ‘chip and pin’)

3. Is the hologram

4. Is the 16 digits account number

5. Is the logo of the card type

6. Is the expiry date

7. Is the name of the cardholder

Example of reverse side of debit card:

8. Is the magnetic strip

9. Is the signature strip

10. Is the CVC code.

Types of Debit Cards:

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 There are 6 types of debit cards in India :

1. Visa debit cards: it is the most globally accepted type of debit card for all kinds of
online and electronic transactions. These types of debit cards are directly issued by the banks
that have tied up with the international payment visa system networks. These cardholders have
an overdraft facilities and the online transactions take place through the secured verified by visa
payment platform. There are different types of visa debit cards such as visa classic debit cards,
visa gold debit cards ,visa signature debit cards, visa platinum debit cards, visa infinite debit
cards.

2. Master Card Debit Cards: master cards are the one of the world’s most accepted form of
electronic payment. In master cards you can access your savings or current accounts through the
company’s secure code of payment platform. There are different types of master card i.e. the
world debit master card, the standard debit master card and the enhanced debit master card.
These debit cards are popularly because of their services and excellent customer support.
These cards are also offers excellent benefits and rewards programs.

3. Rupay Debit Card : this debit card was introduced in India these types of debit cards are
issued under a domestic debit card scheme by the national payment corporation of india. Such
cards are accepted only domestically. These debit cards are especially launched to provide
electronic access to banks account to the people who lived in small towns or villages. These
cards are issued by all major public and private sector banks.

4. Contact less debit cards: these cards are allowed the payment to be made without swiping
the card. Simply wave these cards over the payment machines. The transaction is
automatically processed. And contact less debit cards are the fastest method of cashless
transactions. These debit cards are work on the NFC (near field communication) and RFID (
radio frequency identification) principle through these technologies card is connected to the
POS terminal. You don’t have to hand over the card to the cashier it prevents the cashier from
duplicating or storing the details of your debit cards. Some banks india such as axis bank, SBI
and HDFC are issue contactless cards.

5. Visa electron debit cards: these cards are very similar to the Visa debit cards except that
cardholders don’t have any overdraft facilities. These cards are ensured that you do not
overspend. Visa electron debit card can be used for cash withdrawal at domestic or
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international ATMs. No interest charges are levied on when you withdraw cash by using Visa
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electron debit cards. These debit cards do not make offline payments in trains, flight etc
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 because of inability of PoS Terminal to confirm if funds are transferred in real time. Bank of
India, syndicate bank and bank of Maharashtra are issued Visa electron debit cards. However
visa electron debit card are not accepted in Australia, USA, Canada and Ireland.

Maestro debit card: these cards are similar to the master debit cards they are accepted
globally and you can use these cards to withdraw cash in ATM across the world. Transaction
for domestic and international POS outlets , payment for online purchases can be done
through this card. Oriental bank of commerce , SBI, Syndicate bank and bank of Rajasthan
are issued these cards.

Tracking payments with the debit cards

Every transactions of debit cards or check cards will appear on the account holders monthly
statement to make it easy and keep the track records of purchases. Consumers are more
effectively making their purchases in cash i.e money they actually have as opposed to money
borrowed on credit but unlike cash purchases there is no way to lose track of amounts spent on
the debit cards and while lost or stolen cash gone forever but a stolen or check cards can be
reported to the banks which can deactivated the card and remove any fraudulent transactions
from the cardholders account and issued the new card.

what is credit card ?

Credit card is a thin rectangular piece of plastic or metal that is issued by the bank or financial
services company that allows the cardholders to borrow funds with which to pay for goods
and services with merchants that accept cards for payment. Credit cards are impose the
condition that cardholders pay back the borrowed money plus any applicable interest as well
as any additional agreed upon charges either in full by the billing date or over time. The card
issuer (bank) creates a revolving accounts and grants a line of credit to cardholder from which
the cardholder can borrow money for payment to merchant, or cash in advance. Or we can
say that credit cards are combine payment services with the extension of credit. Complex fees
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structure in the credit card may limits customers ability in comparison to shop. They are helping
to ensure that the industry is not the price competitive and helping to maximize the industry
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 profit. Due to these concerns many legislatures have regulate credit card fees.

A vast majority of business let the customer make purchases with the credit cards that remain
one of the today most popular payment methodologies for buying customer goods and
services. Credit card is different from the charge card because it requires the balance to repaid
in full in each month. Credit cards are also allow the consumers a continuing balance of debt,
subject to interest being charged. Credit card is also differs from cash card which we can use
like currency by the owner of the card. It is differs from charge card also in that credit card is
typically involve the third party entity that pays the sellers and reimbursed by the buyer
whereas a charge card is simply differs from the payment by the buyer until a later date.

How the credit cards work?

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Types of credit cards:

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 1. The standard credit card: they are the general purpose credit cards with revolving their
balance that is credit is used up when purchases are made and open again once the bill is paid
. Standard cards are mostly starter credit cards which usually for applicants with little or no
credit history which meet the minimum required criteria.

2. Travel Credit Card: these cards can help you enjoy discounts on all the airlines tickets
booking ,cab booking bus and train bookings, etc. Because of the travel credit cards
customers get more rewards points on every purchase these points can be used avail
discounts for future bookings. Customers enjoy the complimentary access to VIP airport
lounges and booked tickets on the discount rates.

3. Rewards Credit Cards: Reward credit cards come with accelerated rewards points on
specific purchases and transactions. Bonus points earned redeemed for discounts on future
purchases and to reduced monthly credit cards bills. Some cards will pay out at flat rate of
1%to 2% while the others will give extra bonus on predetermined spending. Rewards are
paid in variety of forms including gift certificates, checks, airline miles and the free hotel
stays.

4. Shopping credit cards:These credit cards are shop at the partnered online and
offline to enjoy discount on the specific transactions and purchase with the shopping credit
cards. they can enjoy discount vouchers, cashbacks etc.

5. Secured Credit Cards: these cards are avail for against fixed deposits to enjoy the
attractive interest rates. they are also require to post collateral when you open the account
usually equal to or greater than your credit card limit. secured cards are always build
credit score with proper usage.

Difference between Credit and Debit Card:

BASIS DEBIT CARD CREDIT CARD

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 Meaning Debit card deducts money from your Credit Cards allows the borrow
saving bank accounts or your current funds to pay for goods and
account. With a debit card you can services. when you use credit
only spend the money that you have cards the issuer puts money
available in your account. towards the transaction. this is the
loan that you are expected to pay
back in full amount i.e usually
within 30 days unless you want
to be charged interest.
Source of funds Saving account or current account Credit extend to you by your card
issuer it gives access of money
you otherwise do not have like
short term loans.
Monthly Bills NO YES

Spending You can only spend that how much You can spend more than what
Advantage you have. you have.

Application process It is easy basically with no barrier Sometimes difficult it is

to receiving a debit card. depending on credit score and
other details.
Who pays for You pay for your purchase only. Credit card company pays the
the purchase vendor for your purchase and
then you pay the credit card
company.
Payment there is no payment that need to be A bill need to be paid each month
made since you are using your own since it is being borrowed.
money.
Fees and charges PIN regeneration and Annual fees are They have multiple fees
paid. applicable includes annual fees,
late payment fees, joining fees
and bounced cheques fees among
others.
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 Interest charge There is no interest charged because If the credit card bill is not paid in
no money is borrowed. full, interest is charged on
outstanding balance. the interest
rate is usually very high.
Rewards The rewards you get are in minimal. They enjoys the cash back , reward
points and air miles which can be
redeemed.
Fraud liability There is higher risk of fraud because There is very less risk of fraud
if someone steals your card and make because it is very rarely held
purchases that money will remove liable for fraudulent activity. if
from your bank account and you are you are the only held
investigating about this damage will liable for a maximum of fixed
takes time. the longer you wait to amount.
report the fraud is more likely you
will be held liable for your own
losses.
Credit history It does not affect any credit history. Responsible credit card usage
and payment can be improve
one’s credit rating. credit cards
typically report account activity
to atleast one of the three major
credit bureaus on a monthly basis.
Privileges It does not come with any privileges It comes with numerous retail,
entertainment, dining and travel
privileges that is depending on the
card that you have.
Over draw fees There is higher overdraft fees that is There is low overdraft fees. some
possible to overdraw amount over the credit card companies allow to
account limit. overdraw amount over the
maximum credit line with a fee.
Lost card liability They need protection from theft or Credit cards are mostly offered
loss of the card is minimal. with 100%lost liability
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protection. so you are not liable

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 for any unauthorised transaction
made.

pros. and of Debit and credit

cards. pros of debit cards
1. There is no debt involved in debit card since you are using your own money.

2. Approval of the debit card is always easier and faster.

3. it is cheaper to use since there is no interest charges involved.

4. debit cards does not help build a credit history.

5. you can set up your automatic transfers from your savings account.

Cons. of debit cards :

1. you may be charged a fee if you withdraw money from a different bank ATM.

2. it is less secure than credit card especially for the online purchases issuers refund
fraudulent credit purchases more quickly then debit purchases.

3.spending money from debit card cannot improve credit score.

4. if debit card is stolen then it takes more than 2-3 business days after the user learn about
the loss and theft only the user could be liable for fraudulent charges.

5.debit card can complicate balancing the passbook at the end of the month if you don’t keep
track of spending.

Pros. of Credit card :

1. credit cards offers the protection like if your credit card number is stolen but not the
physical card so according to consumer financial protection bureau you are not responsible
for the unauthorised charges. and if the actual card is stolen you are liable for not more than
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$50 in authorised charges as long as you report it to your card issuer.

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 2.it can be used to build up credit score to help with borrowings but in this case the payment
history is most important component of your FICO score so the length of the credit history is
considered.

3. if the credit card is stolen it is easier to get refunds.

4.credit card also gives points, rewards ,cash backs they give add value to money that
we have already be spending .

5. credit card give immediate access of money that you may not have in your checking
account for example if you don’t have money in your account and you need to cover
something so credit card will help you in this but make sure you can pay it back before the
bill is due.

Cons. of credit card

1. credit card can hurt your credit score if you are not careful with your spendings.

2. you can easily fall into debt if you do overspending .

3. credit cards generally have annual fees which make it an additional expenses.

4. delaying payments on credit cards attracts late fees.

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 CHAPTER 2

REVIEW OF
LITERATURE
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 Review of literature

Many empirical studies have been conducted on the subject of ‘ analysis of Plastic Money’ in
India and abroad. The major emphasis of research has been on various issues like frauds,
security, usage pattern, new method of e-payment, etc. It has been reviewed to indicate in a
general way the type of work done on this subject in India. It is expected that the critical
examination of the studies would give focus to our problem and help to indicate the areas which
have remained neglected at the hands of the researchers. From the review of literature, it was
found that hardly there was a study which examined the perception of both users and traders
on the usage of plastic money. Also, many studies concentrated on individual cards, for
instance, credit or debit card and neglected the joint effect and new innovative cards like smart
card, charge card and check card. In this study, an attempt is made to include all types of cards
in the analysis.

1. Kaseke, N. (2012). : indicated that how consumers used cash or plastic money in the
multicurrency period and find out how easy consumers found plastic money use to be
whether they liked to use the plastic money and how are they compared it by using cash. It
was found that the individual factors such as education level and gender has a bearing on the
using of plastic money and a few problems that were encountered by consumers in relation to
security, speed and complexity of use in some situation it was a preferred alternative.

2. Goel, M. (2013). studied about the technology of the banking sector he suggests that
banks should become the technology friendly by investing in technology and studied about the
customers motivation towards the use and non use of an automated teller machine i.e (ATM)
customers of the financial institutions.

3.S.patil (2014): studied that plastic money replaces the paper or cash money because he
found the usage of plastic money as more and more increasing for online payment and the
development of banking industry in plastic cards are usage trends due to they are highlighted
the role of these plastic cards to be used by the customers and discussed the penetration of
these cards.
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4. Bisht et.al. (2015): studied about the awareness and the use of plastic money among
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the consumers and he found that consumers preferred plastic money over the cash money
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 because of convenience and accessibility while increased transactional costs and unnecessary
formality to procure the cards form the financial institutions were the major constraints.

5. Sharma, A., Karim, S. F., & Jain, V. (2015). : studied the cost of the paying interest
on the credit debt banks likely to the lower than the transaction costs which was associated
with the arranging loans frombanks or other financial institutions.

6. Panda, R., & Swar, B. N. (2016). : studied about that how plastic money help in
increasing in online shopping and online purchase intention.

7. Malagi, R., & Shelar, H. (2017) : studied that the usage of plastic money is more easy
instead of usage of paper money while shopping because it eliminates the carrying of huge
loads of cash which is risky and inconvenient too and the plastic money will save the cost of
printing and reduce the deforestation which would help the environment.

8. Sivankutty, N. S., & Manoraj, S. J. (2017). Studied that the demonetization will lead
to digitalization and there will be tremendous increase in the use of plastic money and as a
part of making the india a digital economy and a less cash society how the government has
announced the benefits to customers using plastic money as payment mode.

9. Neelavathi, K., Chavali, R., & Rao, U. (2017) : studied about the some selected public
and private sectors banks that how the customers are enjoyed plastic money facility by
bankers and studied about the growth of plastic money in future and analyzed the effects of
plastic money and highlighted their various aspects through identification of monetary policy.

10. Makanyeza, C., & Mutambayashata, S. (2018). : they applied the theory of acceptance
and use of technology to determine factors influencing acceptance the use of plastic money
and showed the performance expectancy, effort expectancy,hedonic motivation and habit all
positively influenced behavioural intention to adopt plastic money. Social influence,
facilitating conditions and perceived financial cost all did not have a significant effect on
behavioural intention to adopt plastic money.

11. Subhani in 2008 :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 behavior, plastic money is a form of conditioning and acts as a
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stimulus which qualifies a consumer to spend. The study shows that the preference to go for
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plastic money has a positive attitude that it is easy to use. The perception of credit card
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 usability is associated 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.

12. Lowenstein and Hafalir in 2012 conducted a study on “The Impact of Credit Cards on
Spending”. The study focused on two types of customers: one who carry debts and the one
who do not carry debt. The one who carry debt are known as the Revolvers and the one who
do not carry debt are called the convenience users. The study measured the impact of
payment with credit card as compared to cash by an insurance company employees spending
on lunch in a cafeteria. It was found that there was change in the payment medium of people
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
behavior.

13. JiaLokeYiing (2007) Review of network Economics, December, 6 (4). In his study
“Determinants of merchant participation in credit card payment scheme" aimed at
establishment of the determinants of merchant participation in credit card payment schemes.
It is also found that a merchant’s personal background, type of business and total value of
sale play an important role in determining a merchant’s acceptance of cards in making
payments and it is also found that customer’s usage of credit cards and other merchants’
acceptance of credit cards in payments have influenced a merchant’s choice significantly.
Findings suggest that non-pecuniary strategic factors are the strong drivers and barriers to a
merchant’s involvement in credit card payments services as compared to the monetary
factors.

14. P Manivannan (2013) in his research paper "Plastic money means less payment of cash
checking system " said that use of plastic money is the measure of a luxury credit card, and
the need. The plastic money and the electronic payments and used by people of higher
income category. The extension of this facility is not only meant for customers in urban areas
or cities, but also is for customers who live in rural areas. However, today, with the
development of banking industry, fixed income group also begins the use of plastic and
electronic money payment systems and especially credit cards.
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15. Subhani in 2011 conducted a study on the "plastic money / credit cards for prestige
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between now and then." The study was based on knowledge of the charisma of plastic and its
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 impact on the choice for the use of money. The research found that the preference for the use
of plastic money / credit card has several pros and cons although it is easy to use and
affordable. According to the consumer behavior it is stated that plastic money is a form of
motivation for a consumer to spend. The study suggests that the preference to use plastic
money to have a positive relationship with the easiness of use because the principle of a credit
card has been linked to usage with psychological phenomena that people tend to spend less
with a credit card and spend more with the same amount of cash in hand.

16. Ramasamy S R., 2006, in his research Problems and Prospects of Plastic Money in
Bangladesh said that money is always considered as an important medium of exchange. But
over the past few years, money has changed its form from coins to paper cash and today it is
available in electronic form of money or plastic card .Hence, the major changes which has
been brought in banks is through introducing products that can be used as an alternative to
paper money. Plastic cards are a kind of innovations through which the customers can avail
the banking services just by owning the card issued by their bank and that too without going
to bank and engage himself in the official banking hours. Plastic money is mainly debit and
credit cards that facilitates cash to be drawn from an ATM booth or shop on credit. Both these
modes eliminate the need of actual cash in hand at the time of purchase.

17. Brito and Hartley 1995 in his research found that consumers prefer purchasing through
credit cards because of its ease and convenience of use irrespective of its rate of interest. He
said when consumers use credit cards as a mode of financing, credit cards compete with bank
loans and other forms of financing.

18. Natarajan and Manohar (1993) “Credit Cards–an Analysis”. A study has been
attempted to know that to what extent the credit cards are utilized by the cardholders and the
factors influencing them. The study is confined to cards issued by the Canara Bank... Chi
square test has been conducted to know the level of utilization by taking into consideration
ten components i.e.. numbers of purchases, shops, percentage of purchases, place, frequency,
type of product, type of services, cash withdrawal facilities, add on facility, insurance
schemes etc. the test reveals that sex, age, educational qualification of card holders has no
relationship with utilization of the card rather the occupation, income, employment status of
spouse, mode of getting card is related with utilization of credit Cards.

19. George (1995), “The card majors lead the way” shows that VISA and Master Card play
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an important role in any international payment system. Both VISA and Master Card act
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guarantor of payment to merchants who are willing to accept the cards. VISA and Master
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 card each have nearly 22000 banks all over the world as their members and handle several
million transactions each day. This gives them a transaction handling capability unmatched
by any individual bank. They provide a global network that allows authorization, clearing and
settlement of card transactions, both of credit and debit card.

20. Torbet and Marshall (1995), “One in the eye to plastic card fraud.” This study evaluates
the potential use of behavioral and physiological techniques in the battle against credit card
fraud in the retail environment. It discusses different techniques such as automatic speaker,
dynamic signature verification, fingerprint, facial recognition, retinal and iris scanning, hand
and finger geometry. Author feels that while biometric technologies have the potential to
reduce plastic card fraud there are several problems which must be addressed before they can
be used in retail environments, like the recognition performance, speed of use, usability
customer acceptance, device cost are considered along with industry standards for biometric
devices.

21. Worthington (1995), “The cashless society” paper describes the cashless society, where
clumsy -to handle coins and notes are replaced by efficient electronic payments initiated by
various types of plastic cards is a boom for the twenty-first century. Some of the interested
parties stand to gain more than others if the cashless society becomes a reality. Paper outlines
the rationale of those who are keen to promote the cashless society and the implications for
marketers charged with winning consumer acceptance for payment by plastic card.. The
plastic card payment product is analyzed under the three headings of pay later, pay now and
pay before and a view is offered as to the future prospects for each type of plastic card in
contributing to the development of the cashless society.

22. Joshi (1996), “Variants in plastic.” His analysis says that card issuers seeks to introduce
the emerging payment card technology like debit and smart cards. Credit cards are being
gradually revolutionized by various factors: friendly technology, a competitive marketing
environment, the rise of the financially sophisticated consumer who avoids paying interest
and the emergence of new competitors. The concept of debit cards as a new payment system
has gained acceptance in the Asia-Pacific region in past few years. Being a new concept,
mass acceptance is gradual. It shows that spending on credit cards is higher than debit cards
but the number of transactions is more on debit cards. There are technological and
infrastructure hurdles for debit cards as it is significantly different from credit cards. Study
23

shows that profit margins in debit cards are one-third than those from credit cards.
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23. Maganty (1996), “Changing Dimension.” the author studies the emerging trend and
23
 importance of debit card in daily lives of Indian society. Debit cards are expected to be in use
in places where most transactions are done by cash or cheque in supermarkets, petrol stations,
convenience stores. There cards are designed for customers who like paying by plastic card
but do not want credit. These cards not only keep the cardholder debt free but also provide a
detailed account of spending. These types of cards are ideal for those who have a tight budget
and want to keep within it. Study shows that there are two types of debit cards i.e. on line and
off line debit cards. With the computerization and modernization plastic money will become
the status symbols in the 21st century of Indian traditional bound society.

24. Radhakrishan (1996) study on “DEBIT CARDS” shows that the debit cards also have
found wide acceptability than credit cards because of assurance of payments to retailers,
switching of cardholders to debit card because of using interest free period to avoid high
interest cost, annual charges as compared to debit cards etc. The study shows that the growth
of service industry in the country, electronic fund transfer, point of services offer a large
potential banks to cutting down cost associated with the paper based clearing and payment
services. The introduction of debit cards can take place subsequently and the objective should
be to attain a critical mass in issuing number of such cards so that the operation becomes cost
effective.

25. Nirmala. R. Sonu (2015): ANALYSIS OF THE USE OF PLASTIC MONEY highlighted
the advantage of instant transaction as one of the major factors favoring the use of plastic
money over real money by the population today. It has already been highlighted by the study
that convenience of not carrying cash and ease of transaction is one of the major
psychologically influencing factors that encourage the use of plastic money instead of real
money. Additionally, the results of the study have also stressed upon the convenience and
ease of use while paying or shopping by plastic money. The saving of time and the fact that
the plastic money seems to be more portable also seems to further the cause of a possible
change in the scenario of money usage in the economy. On the other hand, Security comes
forward as a major cause for concern for the population using plastic money. Therefore, it is
easy to conclude that the population is ready as ever to use plastic money at a greater level
due to its high levels of ease and convenience.
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 CHAPTER 3
RESEARCH
METHODOLOGY
25
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 OBJECTIVES OF THE STUDY:

The present study is undertaken with the following objectives.

❖ To present the innovations in banking sector.
❖ To analyse the socio, economic and demographic profile of respondents.
❖ To identify the attitude of customers towards Plastic Money services in Sivakasi.

Primary objective:

To know the perception of people towards plastic money.

Secondary objective:

1. To know the awareness of plastic money among the customers.

2. To know the privilege given by the banks to the customers in terms of plastic money.

Research Methodology
Every entity needs a lot of market research to taking in mind the growing cut throat
competition i.e they are coming up with their new products or services. they need to
understand the attitude and preferences of customers for the market development,
market segmentation, market diversification etc. for doing market research is not only
the qualitative but also quantitative data they need with their appropriate classifications,
analysis and interpretation is always required. for all these statistical techniques like T-
test, mean , standard deviation are useful in analyse and managerial in decision making.
so you need help of all these techniques in taking marketing research and decision. the
main problem of this research study is to analyse the usage of plastic money in india.

Research Design
26

The research was an exploratory followed by descriptive one because the entire project
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was based on only the questionnaire and analysis which is exploratory nature followed
26
 by the detailed descriptions and analysis so this project is of descriptive design also.

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

SAMPLING DESIGN:

A study of this nature requires the selection of customers from banks. Convenient
sampling technique has been adopted. Four banks namely SBI, IOB, ICICI and TMB
selected in Sivakasi according to the convenience of researcher. Debit card holders are
more in number then credit card holders. Thus, researcher selected 100 respondents of
debit card holders and 20 respondents of credit card holders.

Data collection Techniques

Primary source : this data include both qualitative and quantitative data. data was
generated throughquestionnaire as a research instrument.

❖ Research approach : survey method

❖ Research instrument : questionnaire

❖ Types of questionnaires : Structured

❖ Types of Questions : open ended and close ended questions.

Secondary Source:
The data was collected from internet, journals and publications.
Sampling design
Sample is subset of population that has been selected to represent the characteristics of
population.

❖ Sample Unit : individuals who are salaried people and students of various
colleges were chosen as samples.
27

❖ Sample Location : Gurugram

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 CHAPTER 4

DATA ANALYSIS
AND
INTERPRETATION
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 Data Analysis and Interpretation

This chapter tells us about the analysis and findings of the study and set out in the research
methodology. the results were presented on the analysis of plastic money and the study
objectives are:
1. to know the facility of customer which given by the banks in terms of plastic money.

2. to know the awareness of plastic money among the customers.

buyers decision process study targeted 201 respondents out of which all 201 respondents
responded and returned their questionnaire contributing to a response rate of 100% . this
response rate was sufficient. reporting the rate of 70% is good while 80% and above is
excellent.
this excellent response rate was due to extra efforts that was made via courtesy calls made to
remind the respondents to fill the questionnaire on time. the chapter also cover the
demographic information and findings base on objectives. the findings were presented in
graphs, tables and pie charts with explanations being given in pros thereafter.

Primary Data Analysis

1. Age group
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 Interpretation: The above chart explains the age group of the respondents . it states the only 6.97 people
who are belong from the age of below 18 years .85.07% people belong to the age 19-25.5 years . 3.98%
people belong from the age of 26-35.5 . and 3% people belong from the age of above 35 years.so this
conclude that plasticmoney is mostly used by the age group of 19-25 years. then i find that below the age of
18years i.e teenagers are also quiet interested in plastic money.

2.Your gender

Interpretation:the above chart explain the gender of the total respondents from this
interpretation i found that males are using more plastic money then the women.
3. Do you have credit/debit cards?
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 Interpretation :the above chart explains the type of cards that people are mostly using as per the chart
mostly peoplepreferred debit card more than the credit card.
4. Would you prefer debit or credit cards over cash transactions?

Interpretation:the above chart depicts that the preference of plastic money over cash money. so 59%
people preferred plastic money over cash but 14% people cash money over plastic money and 27% people
have mixed responses.
5.how would you rate the security level of payments via debit or credit card?
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 Interpretation:the above charts depicts the security level of payments with plastic cards mostly no. of
people aresaying that they does not believe on the security level of payments of plastic cards.

6. How often do you use credit or debit cards?

32

Interpretation:this above chart depicts that how much people use plastic money in their day to day life
.11% peopleuse it ones or twice a day in a 39% people using in a week in and 49% in a month .
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 7. How would you rate credit/debit cards services?

Interpretation: this above chart depicts that about the ratings of plastic money services. 20% people are
saying plastic money give excellent services, 49% people are give them rating very good, 27% people are
calculate the in good services and only 3% people are saying that they give fair services.

8. plastic cards are the most preferred way to pay utility bills?
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 Interpretation:this above chart depicts that plastic cards are the most preferred way to pay utility bills or
not so mostly people are strongly agree that plastic money is the best way to pay utility bills. only 8%
people are strongly disagree or disagree that plastic money is not the most preferred way to pay utility bills.

9.Plastic card is considered as more as reliable and secured?

Interpretation:this above chart depict that ‘plastic card is considered as more reliable and secure’ so 23%
people are strongly agree and 63% people have quite less agreement to this statement 2% people disagree
with this statement and 9% people are strictly disagree with this statement.

10. debit/ credit card transactions in our country over cash transactions will help to curb
blackmoney circulation in economy?
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 Interpretation:‘plastic cards transaction in country over cash transaction will help to curb black money
circulation in economy’this above chart depicts that 26% people surveyed determined strongly agree of this
above statement. 60%of people agree with this statement 3% people disagree with this statement and
8%people are strictly disagree with this statement.

11. debit/credit cards transactions in the country over cash transactions will help to solve the
problem of corruption in the economy?

Interpretation: ‘plastic card transaction in country over cash

transaction will help solve the problem of corruption in
economy’from this statement only 27% people are strongly agree
and 54% people are agree with this statement but 4% people are
strictly disagree with this statement , 12% are also disagree with
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the statement.
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35
 12. Is plastic money leads to over consumption and spending ?

Interpretation:‘plastic cards leads to overconsumption and spending’ from this statement mostly people
are agree that sometimes because of plastic cards we spent more because we carry limited cash but with
card sometimes we does not able to control ourselves to spent less. but from my study 24% people are
disagree with this statement and 6% people are strongly disagree with this statement.

13. Is plastic money is regarded as a status symbol of high and socio- economic status?

Interpretation:‘plastic card is regarded as a status of high and socio-economic status’.

36
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from this above statement 50% people agree with the statement they think that plastic card is a status

36
 symbol of high economic status and 17% people are strongly agree with this statement but 29%
people disagree with the statement and 5% people are strictly disagree with this statement.
37
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 Chapter 5

Conclusions
And
Implications
38
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 Implications:

1. The banks should increase the security level of using debit/credit card.

2. The banks should reduce the charges of issuing debit/credit cards.

3. The features for debit/credit card should be increased according to income level of customers.

4. plastic money play very important role of wiping out the corruption from india so the
possiblereasons are :
• so every money transactions are recorded in the bank accounts and also
transactions of crores and more than crores of money will cannot go unrecorded.
so each of the official transaction can have only that much of amount that
he/she earns or has save from his/her earnings.
• none of the illegal transactions will be transferred because of all the money will
transferthrough the banks accounts .
• all the conversions of Indian currency into dollars or any other currency are
also recorded in their amount if the lot of money is converted in any other
currency.
• the number of fraudulent money transactions will reduced as no fake paper
notes can be printed.

Conclusion

In 21st century there is no doubt that banking has wholly become customer driven and
technology driven by challenges of competition and rising of customers expectations . banks
are also using the technologies to reduce the cost and enhanced efficieny, productivity and
customer convenienence. because of technology the plastic money is rising up in the market
39

like people start using net banking,mobile banking now customers have multiple option for
Page

the payments . the day definitely will come when all the transactions will done through
39
 plastic money because of more further technologies which have been implemented in USA
and japan but our india is still in growing in its first phase. the day will come when people
buy all the tickets from their credit cards. people will start keeping bunch of cards in their
pockets instead of cash money. in india there is a need to educate the customers about the
plastic money . then the day will when all the school fees are paid only in bank accounts
there is no one will give cash to each other they only use plastic cards. mostly customers are
preferred the plastic cards while shopping online so we can say that ecommerce has been
given the better way to use the plastic money . we can say that plastic money have a bright
future in the coming years because of increasing trends of plastic cards. because of visa and
master cards are advertising regularly and thereby they are increasing the awareness among
the customers. they need to identifies the potential customers and targeted those who are
using mails as internet is growing at fast rate so the net users can target by having interactive
sites. the modern day Indian customers find it easier to make physical payment rather than
carrying too much cash contributing to the growth of plastic money in the country. it give
benefits to the customers through enhance the products offerings at the lower cost and that
too with lucrative deals delighted with rewards scheme, loyalty bonus points , promotional
campaigns etc.

REFERENCES

1. Kaseke, N. (2012). Cash or Plastic Money-An Investigation into the Payment Mode Post
Multicurrency Period in Zimbabwe. International Journal of Advanced Research in
40

Management and Social Sciences, 1(6), 102-119.

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 2. Goel, M. (2013). Impact of Technology on Banking Sector in India. Management, 2(5).

3.. Patil, S. (2014). Impact of plastic money on banking trends in India. International Journal
of Management Research and Business Strategy, 3(1), 34-51.

4. Bisht, A., Nair, P., Dubey, R., & Hajela, T. (2015). Analysis of the use of plastic money: A
boon ora bane. SIMS Journal of Management Research, 1(2), 34-51.

5. Sharma, A., Karim, S. F., & Jain, V. (2015). An Evaluation of Consumer Perception and
Attitude towards the Usage of Plastic Money in India. International Journal of Science
Technology and Management, 4(9), 80-86.

6. Panda, R., & Swar, B. N. (2016). Electronic Retailing: A Review of Determinants of'Online
Shopping Intentions’ in India. Indian Journal of Science and Technology, 9(15), 4.

7. Malagi, R., & Shelar, H. (2017). Increasing trend of shopping because of plastic money in
western Maharashtra. International Journal of Innovative Research in Science and
Technology, 3(8).

8. Sivankutty, N. S., & Manoraj, S. J. (2017). Impact of demonetization in the use of plastic
money with special reference to card and non-card holders. International Journal of Advanced
Scientific Research and Management, 2(3), 180-185.

9. Neelavathi, K., Chavali, R., & Rao, U. (2017). A Study on Impact of Usage of Plastic Money

in India. In International Conference on “Paradigm Shift in Taxation, Accounting, Page

Finance and Insurance”. IOSR Journal of Business and Management (pp. 64-69).
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 10. Makanyeza, C., & Mutambayashata, S. (2018). Consumers’ acceptance and use of plastic
money inHarare, Zimbabwe. International Journal of Bank Marketing.

11. Anoushka Sharma, Syed Fazal Karim and Vipul Jain, An Evaluation Of Consumer
Perception And Attitude Towards The Usage Of Plastic Money In India, International Journal
of Science Technology and Management, Vol.No.4, Issue 09, September 2015, pp. 80-86.

12. Dr. Jaideo Lanjewar, Changing Attitude Of Customers Towards Plastic Money, Abhinav
International Monthly Refereed Journal of Research in Management and Technology,
Volume 4, Issue 3, March 2015, pp. 1-4.

13. Afshan Ahmed, Ayesha Amanulla and Madiha Hamid, Consumer Perception and Attitude
towards Credit Card Usage: A Study of Pakistani Consumer, Journal of Comparative
International Management, Vol. 12, No.1, 2009, pp.47-57.

14. Anisha Bisht et al, Analysis of the use of plastic money: A boon or a bane, SIMS Journal
of Management Research, Volume no. 1 March 2015, pp.5-11

15. Nirmala. R and Sonu, Analysis Of The Use Of Plastic Money, International Conference
on Recent Innovations in Science, Engineering and Management, November 2015, pp.1016-
1019.

16. Nigar Sultana and Md. Mahedi Hasan, Investigating The Consumers' Perception Towards
Usage Of Plastic Money In Bangladesh: An Application Of Confirmatory Factor Analysis,
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South East Asia Journal of Contemporary Business, Economics and Law, Vol. 9, Issue 2
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(Apr.) 2016, pp.16-24.

42
 17. Athena Joy, A Study on Customers’ Perception Towards Credit Cards, Indian Journal of
Applied Research, Volume 5, Issue 6, June 2015, pp.14-19.

18. Syed Ali Raza, Liaquat Ali Rahoo and Prof. Muhammad Memon, Analysis the Use of
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19. Dr. Subhani Muhammad Imtiaz, “Plastic Money/Credit Cards Charisma for Now and
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 ANNEXURE
44
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 Questionnaries
1.Age group

• below 18

• 19-25

• 26-35

• above 35

2. gender:

• female

• male

• others

3. do you have credit/ debit cards?

• credit card

• debit card

• both

4. would you prefer credit or debit card over cash transactions?

• yes

• no

• may be
45
Page

5. how would you rate the security level of payments via debit or credit card?
45
 • 1

• 2

• 3

• 4

• 5

6. how often do you use credit or debit cards?

• 1-2 times a day

• once a week

• once a month

7. how would you rate credit/debit cards services?

• good

• very good

• excellent

• fair poor

8. plastic cards are the most preferred way to pay utility bills?

• strongly agree

• agree

• strongly disagree

• disagree

9. plastic card is considered as more as reliable and secured?

46
Page

• strongly agree
46
 • agree

• disagree

• strongly disagree

10. debit/ credit card transactions in our country over cash transactions will help to
curb black money circulation in economy?

• strongly agree

• agree

• disagree

• strongly disagree

11. debit/credit cards transactions in the country over cash transactions will help to
solve theproblem of corruption in the economy?

• strongly agree

• agree

• disagree

• strongly disagree

12. Is plastic money leads to over consumption and spending ?

• strongly agree

• agree

• strongly disagree

• disagree

13. Is plastic money is regarded as a status symbol of high and socio- economic status?

• strongly agree
47

•
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47
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