Plastic Money (Based on experience of people)
Introduction to Plastic money:-
The recent growth in the use of plastic money mainly credit and debit cards has been phenomenal. There are hundreds of millions of credit cards in circulation today; these little rectangular pieces of polymerized substance have become a way of life. India alone is home to millions of them. Initially positioned as a status symbol these plastic cards have caught on in a big way amongst the educated population of the country.
Spending pattern through plastic money will change drastically. Traveling, dining and jewellery are the top three purchases that Indians make through credit cards. Two years ago, it was jewellery and apparel purchases that formed the largest chunk of purchases through plastic money. Fuel accounts for a very small portion of credit card purchases as these are largely paid through debit cards.
This growing trend will soon rise up to the point where the plastic money will completely replace the need for carrying cash.
Will this change be for good or bad only the future will decide.
Plastic Money business is definitely going big time. In a country where a decade back people have hardly heard the word plastic money or credit card It has been estimated that there are likely to be around half million potential card users in the near future. This forecasting derives credibility from the fact that more and more local and international financial institutions are exhibiting enthusiasm in this direction. This in turn reflects prospects in India market in accommodating numerous credit card competitors operating on the circuit, ensuring healthy and competitive card business deals. Plastic money has become the order of the day. Whether it's a high-end store, a restaurant, a café outlet or even a grocery shop, people just buy what they like (not just what they want), proudly taking out their cards and allowing the shopkeeper to swipe away a fortune of their hard-earned money. You might claim that with plastic money around, you do
The recent growth in the use of plastic money mainly credit and debit cards has been phenomenal. There are hundreds of millions of credit cards in circulation today; these little rectangular pieces of polymerized substance have become a way of life. India alone is home to millions of them. Initially positioned as a status symbol these plastic cards have caught on in a big way amongst the educated population of the country.
Spending pattern through plastic money will change drastically. Traveling, dining and jewellery are the top three purchases that Indians make through credit cards. Two years ago, it was jewellery and apparel purchases that formed the largest chunk of purchases through plastic money. Fuel accounts for a very small portion of credit card purchases as these are largely paid through debit cards.
This growing trend will soon rise up to the point where the plastic money will completely replace the need for carrying cash.
Will this change be for good or bad only the future will decide.
Plastic Money business is definitely going big time. In a country where a decade back people have hardly heard the word plastic money or credit card It has been estimated that there are likely to be around half million potential card users in the near future. This forecasting derives credibility from the fact that more and more local and international financial institutions are exhibiting enthusiasm in this direction. This in turn reflects prospects in India market in accommodating numerous credit card competitors operating on the circuit, ensuring healthy and competitive card business deals. Plastic money has become the order of the day. Whether it's a high-end store, a restaurant, a café outlet or even a grocery shop, people just buy what they like (not just what they want), proudly taking out their cards and allowing the shopkeeper to swipe away a fortune of their hard-earned money. You might claim that with plastic money around, you do