Volume : 2, Issue : 1, January - 2013

Plastic Money a way for cash Less Payment System

P. Manivannan

Abstract :

Number of innovative products for making payment has developed in topical year, taking advantage of swift technological steps forward and financial market development. Transactions refined using these innovative products are accounting for a mounting proportion of the dimensions and value of domestic and cross–border retail payments. This paper is been framed based on the concept of payments made through Plastic Money. Plastic money is the 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 in our everyday life. Plastic money is much more convenient to carry around, as you do not have to carry a huge sum of money with you. Though this plastic money comprises different payment channels, this paper is focusing to ing the conceptual framework of Credit Card.