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  • Plastic+money+ 3 .1

    1. 1. Business Environment Topic:- Using Plastic Money :Not suitable for Indian mindsets.By:- Vaibhav JainGurpreet SinghZahabia Africawala
    2. 2. What is plastic money ? The "plastic" portion of this term refers tothe plastic construction of credit cards, asopposed to paper and metal of currency. The "money" portion is an erroneousreference to credit cards as a formof money, which they are not.Vaibhav jain
    3. 3. Using Plastic Money :Not suitable for Indian mindsetsIntroduction :•Plastic money or polymer money, made out of plastic, is anew and easier way of paying for goods and services.•It includes debit cards, ATMs, smart cards, etc.Vaibhav jain
    4. 4. BIRTH OF PLASTIC MONEY Credit cards were invented 60 years back. After the Second World War, the first plasticcharge card was invented. The Diners’ Club card, Introduced in New YorkCity in 1950, the card allowed Diners’ Clubmembers to eat at 27 restaurants in New YorkCity on credit.Vaibhav jain
    5. 5. Types of plastic money : Credit cards Debit cards Master cards & Visa Charge cards Smart cards Photo cards Co-branded cards Global cards Diners Club cardsVaibhav jain
    6. 6. Credit Cards A credit card is plastic money that is used to pay forthe products and services at over 20 millionslocations around the world. All you need to do is toproduce a card and sign a charge slip to pay for yourpurchases.Vaibhav jain
    7. 7. Debit CardVaibhav jain
    8. 8. Master cards & Visa MasterCard and Visa are global non-profitorganizations dedicated to promote thegrowth of the card business across theworld.Vaibhav jain
    9. 9. Charge cards A charge card carries all the features of creditcards. However, after using a charge card youwill have to pay off the entire amountbilled, by the due date . If you fail to doso, you are likely to be considered a defaulterand will usually have to pay up a steep latepayment charge.Vaibhav jain
    10. 10. Smart cards A plastic card containing a computer chip andenabling the holder to purchase goods andservices, enter restricted areas, accessmedical, financial, or other records, or performother operations requiring data stored on thechip. Smart card is currently introduced byBRTS which stands for Bus Rapid TransitServices in Gujarat in India.Vaibhav jain
    11. 11. Photo cardsVaibhav jain
    12. 12. Co-branded cards Co-branded cards are credit cards issuedby card companies that have tied up witha popular brand for the purpose ofoffering certain exclusive benefits to theconsumer.Vaibhav jain
    13. 13. Global cards Global cards allow you the flexibility andconvenience of using a credit card rather thancash or travellers checks while travellingabroad for either business or personal reasons.Vaibhav jain
    14. 14. Diners Club card Diners Club is a branded charge card. There area wide variety of special privileges offered tothe Diners Club cardholder. For instance, as acardholder you can set your own spending limit.Besides, the card has its own merchantestablishment tie-ups and does not depend onthe network of MasterCard or Visa.Vaibhav jain
    15. 15. Advantages of Plastic Money : Purchasing Power Time Saving Extra Safety Credit Limits A need of emergencies Additional featuresGurpreet Singh
    16. 16. Disadvantages of Plastic Money : Shops using other vendors Less Global availability Worn out Magnetic strip Increased Debt and High Interest Rates Fraud Over BudgetGurpreet Singh
    17. 17. Comparison with foreign countries. India is still lacking in terms of :- Infrastructure- Networking- Professionals Lack of support from government. Plastic money gets scanned through the taxscanner due to E-transaction.Zahabia Africawala
    18. 18.  Implementing rules without corruption. Lower literacy rates compared to otherdeveloped and developing countries. Educating customers. Language barriers breaking the channel ofcommunication.Zahabia Africawala
    19. 19.  21st Century, its time forLiberalisation, Privatisation and Globalisation. In banking sector there is a challenge forIndians in terms of coping up with newtechnologies. No matter, innovation is the key to success inany organisation but it doesn’t responds the waycustomers should. According to Credit Card ManagementConsultancy, Indian are still averse tocredit and there has been no change inmindset.Zahabia Africawala
    20. 20. People using Plastic money.Zahabia Africawala
    21. 21.
    22. 22. Less than 1000009%100000 to 50000044%500000 to100000020%1000000 & above27%Income group using plastic money
    23. 23. 14%53%50 to 6023%10%Percentage of Age group using plastic money inIndia.18 to 3535 to 5050 to 60above 60
    24. 24. Conclusion21st Centurybanking has become wholly customer-driven &technology driven bychallenges of competition, rising customerexpectations & shrinking margins, bankshave been using technology to reduce costenhance efficiency, productivity &customer convenience.Zahabia Africawala