PowerPoint Presentation

WHAT IS PLASTIC MONEY. Plastic money may refer to the use of plastic cards like debit/credit cards. The purpose of using these cards is only for the ease of customers. Plastic cards are one of those types of innovations through which the customers can make use of banking services. The earliest plastic card was called Charge and was invented in 1946. In 1951 The Franklin National Bank in Long Island New York issued the first official credit card..

TYPES OF PLASTIC MONEY. Credit Card Debit Card Charge Card Customer card or Store Car Prepaid / Gift Card.

Comparison between Credit card vs Debit Card. CredS Card— vs Card— Tied to funds borrowed from a financial institution Helps to establish good credit or improve credit rating Accrues interest if payments are not made on time Offers the ability to earn rewards or perks tied to spending Great for large purchases or travel ($.)SSB DEBIT CARD Tied to an individual's personal checking account Has no impact on credit score Doesn't typically offer rewards or incentives for Requires a pin for debit transactions Declines purchases that exceed the available funds in the account, making overspending less Of a likelihood • Great for day-to-day purchases.

Review of Literature. Bansi Patel and Urvi Amin(2012) in their research paper “Plastic Money: Roadway Towards Cash Less Society” discussed that now days in any transaction Plastic money becomes inevitable part of the transaction and with it life becomes more easy and development would take better place and along with the plastic money it becomes possible that control the money laundry and effective utilization of financial system would become possible which would also helpful for tax legislation. Vimala V. and Dr. Sarala K.S (2013). “Stress on the Usage and perception of plastic money among the customers of BOI” with emphasis of the awareness level, perception and usage of new innovative services in regards to plastic money..

Objectives of the study. 1To know the perception of people towards plastic money. 2. To study the increasing popularity of plastic money. 3. To analyses the factors for adoption of plastic money that replace the paper or cash money..

Hypothesis. H0- All age groups use plastic money with ease in mumbai . H1- Age groups 18-25 use plastic money with more ease in mumbai.

Scope of the study. 1. To analyse the literature for the analytical study on popularity of Plastic Money, more specifically in Mumbai. 2. To analyse and present the findings of the study. 3. To determine the popularity of plastic money. Rationale: The objective of the research is to determine popularity of Plastic Money in Mumbai and also to analyse the factors for adoption of plastic money that replace the paper or cash money..

Data Collection. Data plays a critical role in the formulation of a research project. For the purposes of this project, the data collection techniques used are listed as below: a. Primary sources – Questionnaires provided to sample population, personal correspondences related to the topic of the research project. b. Secondary sources – Prior researches in fields related to the research project, newspaper clippings, articles published by various authors who have expertise in their respective fields..

DATA ANALYSIS AND INTERPRETATION. From the data collected through survey it can be concluded that, people within the age group of 18-25 years are most aware of plastic money Collected data also shows that the people prefer making cashless transactions more. It also seems that majority of people consider plastic money easy to use, secure, time saving, and cheaper. Thus the data collected shows that though people prefer Plastic money as it is time saving, convenient it has some drawbacks like security issues..

Proving Hypothesis and conclusion. Based on the research findings and survey conducted we find that the null hypothesis that is all age groups use the plastic money with ease in Mumbai stands rejected as through the conducted survey we can find out that the age group 18-25 are more active in using plastic money than other age groups . So we can conclude saying that there is enough evidence supporting the alternative hypothesis. Looking at the broad scenario, there is no doubt that the plastic money are rising up in the market. In these growing phenomenon there doesn’t seems any declination instead it growing at a higher rate. Consumers are preferring plastic money for shopping online. E-commerce has given a better way to use the plastic money. It can be concluded that plastic money have a very bright future in the coming years because of the increasing trend of E-commerce..

Suggestion and recommendations. On the basis of the analysis, the following suggestions can be given to increase the Plastic card usage: - d. People should be provided discounts or rewards for using plastic money.  e. Since a number of people are unable to use the technology required for banks should guide the customers.  f. The website or APP can also be made more user friendly.  g. People should be motivated to use Net banking for their day to day transactions..