Keywords : American Express
European Journal of Molecular & Clinical Medicine,
2020, Volume 7, Issue 10, Pages 1243-1251
Banking is evolving long way from the days of the medieval money lenders counting coins on the bench to the present scenario, where it’s hard to trace the trail of money from the beginning.Plastic money is to make payment system cashless. Plastic money includes credit cards, debit cards etc. The Plastic Money in the form of cards have been actively introduced by banks in India in 1990's. But it was not popular among Indian consumers at the time of its introduction.This is a study done to gather the evolution of plastic money – the origination and the functioning of the cards till date. The study also includes various types of cards introduced in various time periods and also identifies the factor that influence the usage of plastic money among consumers using Chi-Square Test.