A STUDY ON PROS AND CONS OF CUSTOMER USING PLASTICE MONEY IN CHENNAI CITY

Abstract

Technology has drastically changed all the sectors including the financial sector, and the transactions in banking system have also undergone a remarkable change. The traditional concept of payment through cash is replaced by the debit cards or credit cards called ‘plastic money’. Plastic money is a term that is predominantly in reference to the hard plastic cards we use every day in place of actual bank notes. Plastic money was introduced in the 1950s and is now an essential form of ready money which reduces the risk of handlings a huge amount of cash. The plastic money technology is prospering all around the world. Almost all of the businesses are being preferred this way. The plastic money includes credit cards, debit cards, smart cards, etc.