Disadvantages of plastic money pdf

Yes, it is plastic money in the form of debit or credit card that you carry in your wallet which gives you an easy access to your money. Im not saying that cards are not useful because of these drawbacks. Pdf to build up a sustainable banking environment, technological. For some, plastic surgery is a way to regain a normal appearance after an accident.

Depending on the task, plastic may or may not be the best option. The plastic portion of this term refers to the plastic construction of cr. Plastic money or polymer money, made out of plastic, is a new and easier way of paying for goods and services. Advantages and disadvantages of atm automated teller. Atm provides banking services to its customers round the clock, 24 hours a day, 7 days a week and 365 days a year. Both are reasonably secured compared to cash and are widely accepted. Yes, the advantages of plastic money over cash has made it a best friend of many. Plastic money had fascinated me from a long time and i was curious to go into the details about its usage,this project gave me ample oppurtunity to do so. When we think of plastic money the first thing we think about are credit cards. Credit cards, variants of plastic money, are used as substitutes for currency. Advantages and disadvantages of electronic money life persona.

Plastic recycling advantages and disadvantages science. Plastic containers, such as water bottles, are durable but can also hold smells. The main advantage of plastic money is that it avoids the necessity to carry huge cash and is also difficult to mutilate. Cash cards a card that will allow you to withdraw money directly from your bank via an authorised teller. Credit card reliance and have cooked up many ways to help you. As money is handled over the course of months and years, it begins to break down. Currently the mobile money market size is about 15 million users transferring kshs. In this situation the money is the only manner of payment for those who use a credit card of another company. Charge cards laid the groundwork for debit and credit cards. The concerned companies also attach a no of facilities with their services to the costumers. Plastic money was introduced in the 1950s and is now an essential form of ready money which reduces the risk of handling a huge amount of cash. The conclusion highlights the common problems that market makers in all of the countries faced, but it also emphasizes the differential successes and sometimes different paths and sequences of events that accompanied the development of card markets in the eight countries. Various products of plastic are available for household and other purposes.

Plastic consumes very less energy for recycle compared to glass. The growth and progress of plastic money was assessed to bring up a clear picture of trends in india. Hence it is important to embrace the plastic money for your convenience. Since plastics are lightweight and sturdy, they can be conveniently used to transport goods. Lightweight plastics also economize on fuel consumption during the manufacturing process, and are therefore inexpensive compared to metal or paper.

You cannot pay your milkman, servant, paper wala newspaper. The paper evaluates the issues and challenges of plastic money usage in india. It allows the customers to pay in exchange for goods and services without carrying cash. For others, plastic surgery is a way to correct perceived cosmetic flaws 1. What are the advantages and disadvantages of plastic money. They can come in many different forms such as cash cards, credit cards, debit cards, prepaid cash cards and store cards. Folds eventually become small tears, which turn into bigger tears.

The plastic money is one of those rare moments in history when that agreement shifts and one payment form overtakes another as the preferred way to pay. The entry of private players and adoption of information technology have brought transformation in the way financial. The seven advantages of plastic money called as the credit card. Ancient buildings, temples and moved monuments affected by traffic and wear tear inevitably. Already in use in a number of countries around the world.

The customers may get cashback schemes, life insurances, security covers etc. A study on the importance and popularity of plastic money in aluva. Plastic recycling advantages and disadvantages science online. Disadvantages of plastic money shops using other vendors. Plastic money or polymer money, made out of plastic, is a new and more natural way of paying for goods and services. Credit cards enable users to make big ticket purchases they might not otherwise be able to afford rewards.

Blood clots and deep vein thrombosis are also possible complications of plastic surgery. Plastic means easy to bend or mould into different shapes. The conclusion highlights the common problems that market makers in all of the countries faced, but it also emphasizes the differential successes and sometimes different paths and sequences of events that accompanied the development of. Regardless of the reason for the plastic surgery, there are serious disadvantages of the procedures that must be considered prior to having surgery. Studycopter is the best way to get your best possible score on exams such as ibps po, clerk, so, ssc, rrb, sbi and gmat.

Simply by swiping your card, they say, you automatically spend more than you would handing over a wad of cash. Some of the drawbacks or risk related to cards are. Plastic is threatening many aspects of life these days. Plastic recycling recovers the scrap or the waste plastic and reprocesses the material into useful products, the plastic is nonbiodegradable, it includes melting down soft drink bottles and casting them as the plastic chairs and the tables, plastics are recycled during the manufacturing process of plastic goods such as polyethylene film and the bags. What are the advantages and disadvantages of money. A credit card is a plastic card same as a debit card with a magnetic strip issued by a. Pvc is most commonly used in plumbing and drainage applications, although its also sold in the form of pellets or as resin in its powder form.

As like advantages the first disadvantages of plastic is the strong and durability is beneficial when it comes to protection but these same features turn evil when it comes to decomposition. Even if they act responsibly but some of them may damage the environment. There are advantages and disadvantages to using plastic in your home. These were advantages and disadvantages of plastic in points as you have seen above. Unless you are a person who shops only in supermarkets and hypermarkets you will be forced to use cash. What are the advantages and disadvantages of using plastics. However, it is important to note that the advantages of using plastic money far outweigh the disadvantages.

There are numerous shops that accept credit cards of a specific company only. Cardsplastic money is not a complete replacement for cash. Your credit score is a measure of how creditworthy you are that is, how likely you are to pay money back on time when you borrow it. Using a credit card regularly, and paying the bill on time, is one of the easiest ways to build your credit history and develop a strong credit score. There are disadvantages also, which are now the concern of rbi. The economic benefits of recycling and waste reduction wastewise case studies from 3 a brief look at the economics of recycling while mandatory recycling has been the law in new jersey since 1987 there are still some businesses and organizations.

Relevance of plastic money, study based on faridkot dist. Firms consider plastics easier and cheaper to manufacture as compared to other materials such as metals and stones. A study on the importance and popularity of plastic money. A study on impact of usage of plastic money in india. If you thought that plastic money is extremely advantageous and has no cons, you are definitely in for surprise. Plastic money was introduced in the 1950s and is now an essential form of immediate payment, which reduces the risk of handlings a huge amount of cash. The disadvantages of using plastic products sciencing. It is true that plastics are cheaper and more durable but they.

Some governments of nordic countries, like swedish or danish, seem to be preparing the conditions for a world without cash. Even critics of the mainstream financial system and governmentissued currencies favor doing away with cash. For others, plastic surgery is a way to correct perceived cosmetic flaws. The economic benefits of recycling and waste reduction. Disadvantages not accepted everywhere laws protect the consumer from fraud much less than with a credit card. Its contradicting, but the reality is that recycling tons of garbage will require waste to be transported, sorted, cleaned and processed in separate factories, all of which need energy and. Dec 10, 2017 plastic money or polymer money, made out of plastic, is a new and more natural way of paying for goods and services. Chargit chargit was the first actual bank card and was issued in 1946. These cards mainly just kept customers loyal to the company. In recent years the use of plastic money has gained a lot of popularity. Some of the most common risks associated with plastic surgery are infection, severe bleeding, nerve damage that may lead to numbness, tissue death necrosis, fluid collecting around the site seroma and bruising in the area hematoma. The use of plastic money raises many questions on technical security, control and audit systems.

Dec 18, 2018 for some, plastic surgery is a way to regain a normal appearance after an accident. This only proves that from its inception up to now plastic has managed to become popular building material of millions of useful items, but it is not perfect. Plastic is strong and water and chemical resistant. Most retailers accept credit cards and they are pretty much required for online purchases. Advantagesanddisadvantagesofusingplastics plastics are manmade material that can be moulded into different colours and shapes. An essay article on plastic money and cashless society. Conclusion of merits and demerits of plastic money 1500542 plastic money is the special term used for the hard cards in banks instead of normal paper money. Several powerful forces are behind the move to a cashfree world, including governments and large financial services companies. The advantages and disadvantages of electronic money they are part of a debate that is currently taking place due to the appearance of multiple technological means to make or receive payments. Plastic disadvantages negative effects of plastic today, you can hardly look around you and not spot some item that is made entirely from plastic or has some plastic ingredient. By definition, a cash card allow you to withdraw money, which you have. Yet, plastic comes with serious health risks, too, and its very durability means it doesnt break down or erode easily, instead piling up in landfills and oceans. Dec 29, 2014 about some of the advantages and disadvantages of plastic in brief.

How did all start, in history you might have learnt batter system where goods were traded for goods, then came an era where gold and silver coins came into being, then we modernized we stared using paper notes and coins for trading of goods and services. Companyissued charge cards can be found as far back as the early 1900s. In this research paper an attempt has been made to study an overview of the development of banking in the plastic cards usage trends since these have been introduced in indian banking sector. Its currently ranked as the third most widely used plastic in the world behind polyethylene and polypropylene. This makes it unsuitable for making a frying pan or stove. The low heat resistant is a major drawback as it cannot be used for purposes which involve higher temperatures.

Plastic money free download as powerpoint presentation. Some of the perks that come with paying on plastic include. In general, plastic money is defined as reference to plastic cards used instead of the usual bank notes and it may come in different forms. Through this research, i came to know about so many new things about these lovely polymerized pieces. Mar 26, 2020 a cashless society might sound like something out of science fiction, but were already on our way. Eventually, the money can no longer remain in circulation. While theres only a small chance of having lost or stolen cash returned, a credit card can quickly be cancelled if you lose your wallet. Plastic recycling can reduce the need for the allied activities such as the transportation and mining which are the biggest producers of the greenhouse gases and the pollution. Cvv card verification value or csc card security code is the three digit number usually mentioned at the back of a mastercard or a visa card. The security and secrecy of the data on the one hand for the prevention of frauds and the possible run on e money are the major problems of banks and the rbi. Plastic money gives us an easy and extended purchasing capacity which results in an extra and unwanted buying. Pdf customers perceptions about plastic money towards. The bank of england is considering introducing plastic like polymer banknotes in britain.

Just a plastic besides all the advantages, credit card is just a plastic which can get either lost or stolen. Disadvantages of plastic money free download as word doc. Technology has changed the way we deal with money giving us more convenience and easy access to funds from anywhere. What are the advantages and disadvantages of credit cards. Money one of the most important factor for living life.

It is a multipurpose card, as it can be used as an atm to. Advantages and disadvantages of plastic essay 326 words. It is usually made in factories by melting the grains and poured into moulds and are synthetic. Gold and silver coins are accepted even by foreigners, as they have got some intrinsic value. Financial innovation is fast changing the way we deal with money, giving us more. Disadvantages of plastic money debit card gift card scribd. Types of plastic money credit card cash card or atm card debit. Plastic money, unlike paper money, will not burn easily and can resist higher temperatures than. Polyvinyl chloride pvc is a popular thermoplastic thats odorless, solid, brittle, and generally white in color. Dec 16, 2017 plastic money aka polymer money is made out of plastic and has formed an important part of our daily life these days. With a history of plastic money, you cannot ignore charge cards. Advantagesand disadvantages of usingplastics plastics are manmade material that can be moulded into different colours and shapes.

Jun 29, 2018 advantages and disadvantages of plastic full essay in points disadvantages of plastic. Oct 25, 2018 the strength, durability and flexibility of plastic makes life easier, improves and even saves lives, and also money. Pros and cons of reusable grocery bags plastic edu. About some of the advantages and disadvantages of plastic in brief. Hence within limits the issue of paper money comes very handy to the government at the time of dire need. A study on the importance and popularity of plastic money in.

It is true that plastics are cheaper and more durable but they are harmful and nonbiodegradable too. A cashless society might sound like something out of science fiction, but were already on our way. A study on impact of demonetization on increased use of plastic. There are so many environmental damages when tourist allowed to explore it. The use of plastic products has increased significantly in the recent past, with many enterprises joining the industry and many more varieties of plastics being made. Opponents of credit cards argue that even if you always pay your balance in full and never pay a fee, paying with plastic still costs you money. Advantages plastic is very useful in the building and construction, electronics laptops wouldnt work well if they were made from glass, packaging gladwrap, transportation industries. User friendliness and feasibility are the main features of plastic money that have made plastic money popular not only in india but also all over the world. Plastic containers are mainly used for food and storage and for home organization. Study of merits and demerit of plastic money based on. Conclusion of merits and demerits of plastic money. Essential banking services like deposits, withdrawals transfer of funds, etc can be accessed by customers from any part. Regardless of the reason for the plastic surgery, there are serious disadvantages of the. Today credit and debit cards have largely replaced cheques as alternatives to cash.

This may results in crimes in which extensive purchases can be made under the name of the account holder. Jun 28, 2019 tourism provides workers with 1 out of 12 jobs for every worker. So let us check it out some advantages and disadvantages one by one. Demonetization, currency, plastic money, debit card. It all started with a simple credit card that allowed you to make purchases today and pay later. One of the major disadvantages of using plastic money is that one needs to make a minimum purchase in order to swipe their card. Checking how much money is remaining in the account.

Plastic recycling can help you save the money, there are companies that pay cash for your trash, patronizing the recycled products saves your money because they are less expensive. Disadvantages of plastic negative effects of plastic. Many cards offer rewards programs that will accrue points, discounts, or other benefits like frequent flyer miles. The seven advantages of plastic money called as the credit. Unless you are a person who shops only in supermarkets and. What are the pros and cons of reusable grocery bags. The disadvantages are just to make you aware of any risks, threats, etc so that you can use it carefully. Vehicles made of lightweight plastics are more fuelefficient. Advantages and disadvantages of plastic essay in points. Plastic money is a term that is used predominantly in reference to the hard plastic cards we use everyday in place of actual bank notes. Firms consider plastics easier and cheaper to manufacture as compared to other materials such as metals and stones because theyre produced. Countries have begun replacing traditional paper bills with polymer banknotes made from a durable plastic. They can come in many different forms such as cash cards credit cards debit cards prepaid cash cards instore cards 3. Plastic money its technical and monetary importance educba.