USE OF PLASTIC MONEY IN RURAL INDIA
Plastic money is no longer a symbol of elite class or urban people alone, now the rural people are also able to use the plastic cards in India. There are so many opportunities and challenges towards the use of plastic money among rural people. It can be explained with the help of the various literature regarding the usage and adoption of plastic money by different researchers. It provides an insight of consumers’ attitude towards plastic money.
Roman et al.(2014) focused on the issues faced by the customers regarding plastic money in Pakistan. He observed that most of the customers were reluctant to use plastic money products and they have certain misperceptions about plastic money. Most of them are even
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Plastic Money:
The Plastic Money is generally a card with a magnetic strip offered by banks and financial organization for withdrawals, payments and purchases. People carry them in their wallets and purses and can use it where they want. Such cards generally contain name of card holder, card number normally of 16 digits, and validity end date, issuer's name, signature, magnetic strip and a PIN.
Plastic Money is a term used for all types of bank's cards such as Credit cards, Debit cards and all types of Smart cards for E-Payments. These are of alternative to cash or standard 'money'. Plastic Money refers to credit cards or debit cards that can be used to make purchases anywhere and any at time. In other words Plastic Money is a term refers to hard plastic cards which can be used as actual bank notes. These are of different types such as credit cards, debit cards, cash cards, pre-paid cash cards, ATM cards and store cards. Electronic facilities and equipments are provided by banks for using such cards.
ATM/Cash Cards: A card which allows its user to withdraw money from his account through Automated Teller Machine (ATM) anywhere. These are generally known as ATM
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A thief may be use them directly or to get their information (which is required in money exchange). In today’s technical intelligence it is also possible to get a clone of any credit card or debit card, which works like original and they can be give you a heavy financial loss. So be aware from credit cards fraud as they are like stolen your money from your pocket without your information. Issues and Challenges related to the use of plastic cards in rural India
Mis-Perceptions about Plastic Money:
The study suggested that customers have several miss perceptions about Plastic Money which act as fallacy and tends to stop customers from using Plastic Money.
First misperception in the mind of customers about Plastic Money is that it is the product of elite class only and it require extra ordinary amount of money and maximized bank balances and middle class or below are not in a position to use Plastic Money.
Similarly it is assumed that the use of Plastic Money is a complex activity which requires high degree of education, care and attention which is beyond the capacity of every customer
Another misperception about Plastic Money is that most of customers do not consider Plastic Money as a service. They think that it is a burden in the form of extra bank charges.
Some customers think that after all it is plastic and cannot take the place of money in hand and with Plastic Money options become
Plastic water bottles are very convenient, but are also a big scam. It is very important for people to stay hydrated. Water bottles allow people to stay hydrated while they are out of the house. People don't want to become tired from being dehydrated, so they bring water with them. Water bottles are very popular, even though most of them are just tap water. The three texts I read, all show advantages and disadvantages of plastic water bottles. Each article also uses all three persuasive appeals, ethos, pathos and logos.
The article Plastic bags are Good for you, by Katherine Mangu-Ward was written to explore the pro’s and con’s of three different types of bags. Which is better between plastic, paper, or reusable bags has always been a debatable question with an opinionated answer. In the article Mangu-Ward characterizes the cause and effect relationships which have lead to the unpopularity of plastic bags in terms of guilt.
At the same time, personal identity becomes problematic, so that development of the money form has both positive and negative consequences. That is, individual freedom is potentially increased greatly, but there are problems of alienation, fragmentation, and identity construction.
Money has evolved with the times and is a reflection of the progress of man. Early money was a physical commodity, grain, gold or silver. During the vital stage, more symbolic forms of money such as certificates of deposit, bank notes, checks, letters of credit, bonds and other forms of negotiable securities came into prominence. Social development transformed money into a trust, “In God We Trust' it says on the back of the ten-dollar bill.” (The Ascent of Money, 27)
4) In the occasion that banks require more cash, they basically print progressively or summon more digits in their electronic records. This system is viable abused and gamed by banks since paper money is fundamentally paper checks with a certification to have regard, with no genuine physical gold off camera to back those
...e government can use to reduce the consumption of the plastic bags without causing a burden to the consumers initially is through funding negative advertising. However this creates opportunity cost, which is the cost of an alternative that much be forgone in order to pursue a certain action. This will cause MPB curve to shift to left, towards the MSB curve. However this is a disadvantage towards the government as it cost a lot for funding advertisement. Therefore this would lead to an increase in taxation causing burden to the consumers whether they consume plastic bags or not.
Over the last ten years people in the United State and around the world have heavily relied more on their debit or credit cards to process transactions of their purchases. In the old days it used to be when you would get your paycheck on Friday and rush to the bank during your break or lunch in order to cash withdraw your funds or deposit them into your account. It used to be where you carry cash to buy groceries, pay bills, and go shopping. Now some people don’t even set foot inside their bank branch because they are paid using direct deposit or the funds are loaded into a debit card provided by their employer. Many employers from around the globe don’t even issue paper check anymore.
Leonard shows us how passionate she is about the topic and how she ventured across the world to see how consumerism is affecting not only us, but countries all over the world. She worked hard in her research to show us that the plastic bottle is a concept that can destroy our ecosystems and in return hurt us as individuals.
By offering consumers both a means to pay for goods and services and a source of credit to finance such purchases, credit cards have become the most widely used credit instrument in the United States. As a payment device, credit cards are a ready substitute for checks, cash, and debit cards for most types of purchases (Federal Reserve, 2013).
Using plastic bags are second nature to people in this day and age. Warner acknowledges, “Much to the dismay of the environmentally conscious citizens worldwide, the ubiquity of the free plastic carryout bag has bred nonchalant consumers who take this modern convenience for granted” (646). Although some people are conscious about the environment, people strive more for convenience and do not think about the impacts using bags have not only on the environment, but on themselves as well. If something is bad for the environment, it will alternatively be bad for humans as well. When plastic bags are exposed to the sun from being littered all around, the ultraviolet rays cause the substances of plastic bags to weaken. After the substances weaken, the substances become invisible to the naked eye. The substances that are no longer able to be seen are toxic to humans (Warner 649). As a result of plastic bags being littered around, animals consume plastic bags. This is negatively affects humans because animals are often consumed. When humans consume animals like, fish, there can be plastic in the fish’s belly, which then transfers to the humans and this poses a concern for human’s health. Humans are negatively affected by plastic bags because of the toxic chemicals in plastic bags, as well as, consuming animals with plastic in their
Everyone has heard a cashier one time or another mumble, “Paper or plastic?” as he put their groceries in a bag, but do shoppers know the effects of each vessel in which they carry their comestibles? There are many issues and benefits to both paper and plastic. The making and recycling of both paper and plastic bags can harm the environment. One must also look at the costs of making each bag. The convenience of each is also something to look at. Many people jump to conclusion that paper bags are better for the environment without knowing the facts. Since plastic bags are preferred by customers and plastic bags actually do not hurt the environment as much as paper ones do, consumers should feel at ease when choosing plastic.
The invention of money was a major improvement in peoples’ lives. In the past, people usually had to travel all day to find the person who is willing to exchange their goods. In addition, the goods people want to exchange did not have the standard value of measurement. This led to unequal exchanges. Furthermore, it is not convenient to carry heavy goods from one place to another for an exchange. To solve these issues, money will be the only solution. Later, people tend to develop money from cowry shells to credit cards for the convenience and to improve their society.
The invention of money is perhaps one of the greatest achievements of human civilization. From the very beginning of society, people have used money to circumvent the difficulties of bartering and to foster trade and commerce. Since then, money has come a long way. No longer do we need to rely on silver coins, cocoa beans, or even anything of intrinsic value to conduct our business; today, we use paper currency, which is convenient and easy to carry around. But slowly, we are moving into the digital age of money, an age in which less of our money is actually tangible and more of it is just data on a computer server.
The use of credit and debit cards today are taking a tour in the sense that electronic cash is becoming more admissible as the world makes a switch towar...
A cashless society will further improve the globalisation that characterise our present time. The computerised systems can be used to decrease the quantity of paper trail therefore substituting paper cash with cashless credits or electronic money transfers. However, in a cashless economy, this will change with certain crimes almost eradicated. It will also be faster to generate electronic payments than cash as Near Field Communications (NFC) chips make their way into more payments cards and mobile handsets as well providing protection not applicable to purchases made using cash. This technology is simple with low power wireless link evolved from radio-frequency identification (RFID) tech that can transfer small amounts of data between two devices identifying us and our bank account to a computer. Another benefit of drawing nearer to a cashless society is that other companies are providing pioneering cash-free solutions to the payment related problems we come across. For example, WisePay, a provider of e-payments services, is deploying technologies that ensure parents no longer have to worry about sending their children to school with cash to pay for meals, excursions and other fees that will eliminate the likelihood of being caught short for cash or children misplacing money. The Government also has valuable explanations why they may deem to turn away from cash. Due the main factor of printing and distributing cash, not to mention ensuring the economy is free from forgeries which are all costly endeavours estimating that the cost to society of using cash is between 0.5 and 1.5% of GDP annually. In addition, there are many technological innovations that propose there is a real enthusiasm for an alternative to cash with the upsurge...