Jasneen A Salam
M. Phil. Scholar
Sacred Heart College, Tevara
Ernakulam, Kerala (India)
Gopika Dinesh
M. Phil. Scholar
Sacred Heart College, Tevara
Ernakulam, Kerala (India)
A M Viswambharan
Professor (Retd.)
Department of Commerce
Sacred Heart College, Tevara
Ernakulam, Kerala (India)
Bimal P Bashir
Assistant Professor
Department of Veterinary and A.H. Extension
College of Veterinary and Animal Sciences, Pookode
Wayanad, Kerala (India)
Abstract
With the computerization and modernization, plastic money became the status symbols in the 21st century of Indian traditional bound society. Plastic Money has revolutionized the economy. The term ‘plastic money’ refers to the use of technology to facilitate digital transactions that can be conveniently carried out without having to visit the banks every time. Changing technology replacing the traditional concept of paying not through cash but by plastic money (credit and debit cards), this research was undertaken to study the emerging trends and importance of plastic money in our daily lives. The present paper makes an attempt to understand the attitude towards the use of plastic money. The paper is an exploratory-cum-descriptive research that is primarily based on the data collected from 200 respondents from cochin city and duly investigates the acceptability of the cards among the people and the factors affecting it. It was found that people prefer plastic money over paper money and the major benefit that the card provides is the convenience and accessibility. The major problem according to them is the increased transactional costs and unnecessary formalities to procure the cards from the financial institutions. They felt that the future of plastic money is bright and according to them, the next thing to come via technology would be the use of digital signatures. The growth and progress of plastic money was assessed to bring up a clear picture of trends in India.
Key words: Debit Card, Credit Card, Plastic Money, Paper Money.
