Essay, Pages 2 (355 words)
Plastic money is the alternative of cash or the standard ‘money’. Plastic money is used to refer to the credit cards, 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 some of money with you. It is also much safer to carry it along or to travel with it as if it is stolen one can consult the bank whose service you are using and get it blocked hence saving your money from getting stolen or even lost.
Plastic money or polymer money, made out of plastic, is a new and easier way of paying for goods and services. 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. It includes debit cards, ATMs, smart cards, etc. Nowadays even developing countries like India are encouraging the use of this plastic money more than cash due to these reasons.
Furthermore these credit and debit cards also have plastic used in their making and that is where the name ‘plastic money’ has originated from. Anonymous In today’s materialistic world, every one is running behind money or you can say that the whole world is running behind money. In addition, these days, things have become costlier and with out hard cash it is difficult to make any outright purchase, if you are an impulsive buyer.
Nevertheless, with ‘Plastic Money’, i. e.
Payment Cards, you can do it without carrying any money on you. There is no burden of carrying a bunch of notes, no fear of loosing or forgetting the wallet at home. Welcome to the age of ‘Plastic Money’. Many of the Pakistan Banks converted its operations to Plastic money and many of customers are already prefer plastic money in Banking terms. It is very successful banking term e. g. : if someone needs cash of immediate basis so he/she should be use its ATM for any where or any bank ATM and withdrawal cash as per it need