What is plastic money why is it so important?

Plastic money means use of technology to carry out digital transactions that can be carried out easily without facing the hassles of visiting the banks every time. Plastic money is very secure, because if an individual loses his card, he can get it blocked immediately.

What is plastic money answer?

Plastic money is a term that is used predominantly in reference to the hard plastic cards used every day in place of actual bank notes. Plastic money can come in many different forms such as Cash cards, Credit cards, Debit cards, Pre-paid Cash cards, Store cards, Forex cards, and Smart cards.

Do you accept that plastic money is useful?

Plastic Money is also not 100\% safe: There is a certain amount of risk involved in transactions which involves plastic money as well. Especially when doing online shopping. We are exchanging the details relating to our card over the internet which is not always a safe place.

What is plastic money in simple words?

Plastic money is an alternative to the cash or the standard “money”. Plastic money is referring to the credit cards or the debit cards that we use to make purchases. It includes credit cards, debit cards, pre-paid balance cards, smart cards etc [1] .

What is plastic money in business?

According to Business Dictionary, plastic money is a generic term for all types of bank cards, credit cards, debit cards, smart cards, Automated Teller Machine cards and charge cards.

What is plastic money in business studies?

Plastic money is an electronic card issued by bank to the customer for withdrawal of cash….. 2 types of card 1.debit card 2.credit card. 0Thank You. CBSE > Class 11 > Business Studies.

What is plastic money Brainly?

Brainly User. Answer: Plastic money is the generic term for all types of bank cards, credit cards, debit cards, smart cards, etc. They are the alternative to the cash or the standard ‘money’. Plastic money is used to refer to the credit cards or the debit cards that we use to make purchases in our everyday life.

What is plastic money and its types?

There are different types of plastic money available in the market today. Such as Credit cards, Debit cards, add-on cards, charge cards, co-branded cards, affinity cards or Diners Club cards. More and more Indians are using them as a convenient mode of payment.

What is plastic money Wikipedia?

Plastic money is a term used to represent the hard plastic cards used in day-to-day life in place of actual banknotes. Plastic money refers to the hard plastic cards we use every day in place of actual bank notes.

Which of the following is plastic money?

Credit card is also known as plastic money. Credit Card is a small plastic card that is issued by financial institutions such as banks.

What do you mean by plastic money class 10?

Plastic money refers to the hard plastic cards we use every day in place of actual bank notes. For example ATM cards like credit card and debit card are electronic generated card that acts as plastic money at the time of buying of goods and services.

Is plastic money a good alternative to cash?

Plastic money definitely provides an alternative in some cases and compliments cash as a medium. Peter, a young MBA graduate joins a large software firm as a Business Development Executive. His job involves frequent travelling and meeting with leads and clients to develop business for the organization.

What are the advantages and disadvantages of plastic money?

There are several advantages of plastic money as seen in the above illustration. The advantages include. Eliminates the need for carrying huge cash: This eliminates the need for carrying huge load of cash which is risky and inconvenient too.

How much do you know about plastics?

Abstract Plastics have transformed everyday life; usage is increasing and annual production is likely to exceed 300 million tonnes by 2010.

What are the benefits of plastics to society?

It is evident that plastics bring many societal benefits and offer future technological and medical advances.