A PROJECT REPORT

ON
“ TO STUDY FACTORS AFFECTING PLASTIC MONEY USAGE IN KANGRA “
SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENT
FOR THE AWARD OF THE DEGREE OF
BACHELORS IN BUSINESS ADMINISTRATION (2021 -2024)

DRONACHARYA P.G COLLEGE OF EDUCATION RAIT, KANGRA (H.P)

BBA Department
HIMACHAL PRADESH UNIVERSITY, SHIMLA
SUMMER HILL – 171005
MARCH

UNDER THE GUIDANCE OF SUBMITTED BY

Mr. Mukesh kumar Sakshi

Assistant professor (HOD) UniversityRollno.5211530009
 UNDERTAKING

I sakshi declares that the work presented in this project title “TO
STUDY FACTORS AFFECTING PLASTIC MONEY USAGE IN KANGRA ‘’
submitted to the University of the Business Study H.P University’
Shimla for the award of the bachelors of business administration
degree is my original work. I have not plagiarized or sumitted the
same work for the award of any other degree in case this
undertaking is found incorrect. I will accept that my degree may be
unconditionally withdrawn.

Signature of the student :

Student Name : Sakshi
Roll no :
 Certificate from Guide

This is to certify that Ms. SAKSHI Roll no. student of BBA 6th Semester of
Himachal Pradesh University has completed a project report title topic “To
study factors affecting plastic money usage in Kangra ” under my
guidance and that no part of this report has been submitted for the award of
any other Degree or Diploma to any other Board or University the project
done by her is accurate and authentic.

Signature of Student
Sakshi

Guide Name
Mr. Mukesh Sharma (HOD)
Assistance Professor

GUIDE SIGNATURE
Date :
Place :
 PREFACE

Bachelor of Business Administration (B.B.A) program is one of the most

reputed professional courses in the field of management. This course
includes both theory and its applications as per the contents of its
curriculum. Research report is an integralpart of Bachelor of Business
Administration of Dronacharya Post Graduate College of Rait. It gives
exposure to our practical knowledge and also to get interact with the
various aspects of present market conditions. Each student is required to
undergo practical training after the competion of the fourth-semester
examination.

The Research project programmers are designed to give the managers the
future of the corporate happenings and work culture. The real-life
situation is different from the stimulated exercise enacted in an artificial
environment inside. The Research project programmers are designed
south at the managers take responsibilities.

The report presented here is a result of my hard work

 ACKNOWLEDGMENT

The success and final outcome of this project required a lot of guidance and
assistance from many people and I am extremely privileged to have got this all
along the completion of my project. All that I have done is only due to such
supervision and assistance and I would not forget to thank them.

I would not forgot to remember my fellow classmates, BBA 3 rd year for their
encouragement more over for their timely support and guidance till the
completion of our project work.

I am thankful to and fortunate enough to get constant encoragement, support

and guidance from all teaching staffs of BBA department which helped us in
successfully completing our project work . Also I would like extend our sincere
esteems to all staff in college Library for their timely support.
 TABLE OF CONTENT

CHAPTER TITLE PAGE NO.

NO.
Undertaking
Certificate
Perface
Acknowledgement
1 INTRODUCTION
Plastic Money
2 CONCEPTUAL
FRAMWORK
History, type of plastic
money,
3 LITERATURE
REVIEW
Lierature review analysis
factors affecting plastic
money
4 RESEARCH
METHODOLOGY
Research objectives, Methods,
Sample size
Data collection method,
Research design, Hypoth
Esis, Limitation
CHAPTER – 1
INTRODUCTION

INTRODUCTION
Plastic money is the generalized term for all cards such as debit cards, credit
cards, bank cards , smart cards etc. For the purpose of our research, we have
limited meaning of the word ‘plastic money’ only to credit cards and debit
cards.

Growth of plastic money market and the increasing acceptability of plastic

money in numerous outlets have led to increased use plastic money. Many
people are still not familiar with the features and different advantages
offered by plastic money. By providing convenient and secure transactions,
credit card plays a vital role in improving people’s standard of living or
lifestyle. With the present-day innovation in modern technology, a change
noteworthy of attention has taken place in the world of business. This
change has led to the creation of a new form of currency “ cards or plastic
money” – as a substitute for traditional paper money, and it has effectively
modified the manner in which business takes place around the world. A new
dimension has been created by plastic money in terms of transactions and
service. But, at the same time, acceptability of plastic money in India is still
questionable. Credit/Debit card holders are still few in number and are
limited to a certain section of people. This particular resarch has been
undertaken to understand the factors affecting plastic money and the usage
of plastic money as an alternative to cash. At the same time the factors
affecting the perception of consumers toward plastic money have also been
examined.

Plastic money has become a need rather than just a convenience. Card
payments has topped the charts of using the various modes of online
payment with internet becoming available at affordable rates and increase
in internet speed. In India, the electronic transactions have become more
secure, more convenient, with faster authentication making e-commerce
safer, it being one of the world’s fastest emerging economies. The coming
years are expected to be a growing phase for payment space in India with a
booming economy, rapid development, innovation and infrastructure
building coupled with adoption of more dynamic technological innovations.
The increasing demand of consumers will lead to increasing need for
quicker, simpler, frictionless payments. We will see not only a shift from
cash to electronic payments but newer modes of electronic payments
growing and replacing existing technologies.

The Indian demography is quite varied in age group. We have a skew in the
distribution with a higher youth population. This is significantly expected to
influence the Indian growth story. Especially after demonetization, the
usage of plastic money for transaction purpose has seen an increase. Usage
of plastic money has also increased significantly due to the ongoing COVID-
19 situation. In light of the above-mentoned reasons, this study on the
factors affecting use of plastic money in urban India is being conducted.

The History of Credit Cards and Debit Cards in Plastic Money

 Credit cards have evolved into a safe and secure manner to purchase
goods and services. The internet has given credit card users additional
purchasing power. Banks have options like cash-back rewards, savings
plans and other incentives to entice people to use their cards. Debit cards
allow people the convience of cards without the worry of racking up debit.
The convenience, security and rewards offered by credit and debit cards
keep shoppers using their cards as opposed to checks or cash.

 Credit card origins

The first credit cards were issued by individual stores and merchants.
These cards were issued in limited locations and only accepted by the
businesses that issed them. While the cards were convenient for the
customers, they also provided a customer loyalty and merchant. It was not
until 1950 that the Dinner’s Club card was created by a restaurant patron
who forgot his wallet and realized there neeeded to be an alternative to cash
only.
 Plastic Becomes the Standard

The first Diner’s Club cards were made out of cardboard or celluloid. In
1959 Amercian Express created a system of making an impression of the
card presented at the register for payment. Then that impression was billed
to the customer and due in full each month. Several American Express cards
still operate like this as of 2010. It was not until the late 1980s that
American Express began allowing people to pay their balance over time
with additional card options.

 Bank Card Associations

 Iin 1966, Bank of America created a card that was a general purpose
card or “open loop” card. These “closed loop” agreements limited cards like
Diners Club and American Express to certain merchants, unlike the new
“open loop” cards. The new general purpose system required additional
safety features and began building the redit card system of today. The Visa
association of cards took credit cards to a new level in 1989 when they
introduced debit cards. These cards linked consumers to their checking
accounts. Money was now drawn from a checking account at the point of
sale with these new cards and replaced check writing. This helped the
merchants check that money was available and made it easier to track the
customer if the funds could not be obtained. Consumers liked the
convenience of not write checks at the point of sale, which made debit cards
a safe alternative to cash and checks.

 The Future
There were almost 29 million debit card users as of 2006, with a
projected 34.4 million users by 2016. However, online sevices like PayPal
are emerging as a way for people to pay their debits in new, secure and
convenient ways. Technology also exists to have devices implanted into
phones, keys and other everyday devices so that the ability to pay at the
point of sale is even more convenient.

Types of Plastic Money

 Credit card
A credit card is plastic money that is used to pay for products
and services at over 20 Million locations around the world. All you need to
do is produce the card and sign a charge
slip to pay for your purchases. The
institution which issues the card makes the
payment to the outlet on your behalf; you
will pay this ‘loan’ back to the institution at
a late date.
 Debit card
Debit cards are substitutes for cash or check payments, much the
same way that credit cards are. However, banks only issue them to nyou if
you hold an account with them. When a debit card is used to make a
payment, the total amount charged is
instantly reduced from your bank balance.
 A debit card is only accepted at outlets with
electronic swipe-machines that can check
and deduct amounts from your bank
balance online.
 Charge card
A charge card carries all the features of credit cards. However,
after using a charge card you will have to pay off the entire amount
billed, by the due date. If you fail to do so, you are likely to be considered
a defaulter and will usually have to pay up a steep late payment charge.
 When you use a credit card you are not
declared a defaulter even if you miss your
due date. 2.95 per cent late payment fees
(this differs from one bank to another) is
levied in your next billing statement.
 Amex card
Amex stands for American Express and is one of the well-Know charge
cards. This card has its own merchant establishment tie-ups and does not
depend on the network of Master card or Visa.
 This card is typically meant for high-income group categories and
companies and may not be
acceptable at many outlets.
There are wide variety of
special privileges offered to
Amex cardholders.

 Dinner club card

Diners Club is a branded charge card. There are a wide variety
of special privileges offered to the
Diners Club cardholder. For instance,
as a cardholder you can set your own
spending limit. Besides, the card has its
own merchant establishment tie-ups
and does not depend on the network of
Master card or Visa.
 However, since this card is typically meant for high-income group
categories, it may not be acceptable at many outlets. It would be a good
idea to check whether a member establishment does accept the card or
not in advance.

 Global card
Global cards allow you the flexibility and
convenience of using a
credit card rather than cash or travelers
cheque while traveling abroad for either
business or personal reasons.
 Co-branded card
Co-branded cards are credit cards issued by card companies that
have tied up with a popular brand for the purpose of offering certain
exclusive benefits to the consumer. For example, the Citi-Times card
gives you all the benefits of a Citibank credit card along with a special
discount on Times Music cassettes, free entry to Times Music events, etc.

 Master card & Visa

 Master card and Visa are global non-profit organizations
dedicated to promote the growth of the card business across the world.
 They have built a vast network of merchant establishments so that
customer worldwide may use their respective credit cards to make
various purchases.
 A smart card contains an electronic chip which is used to store cash.
This is most useful when you have to pay for small purchases, For
example bus fares and coffee. No identification, signature or payment
authorization is required for using this card.
 CHAPTER - 2
LITERATURE REVIEW

Literature Review
 P. Manivannan (2013) in his paper ‘Plastic Money, a way for cashless
payment system’ concludes that, what was earlier a luxury is now needed
by the masses. Ony the higher income group used these instruments.
However, today, with development of banking and trading activity, the fixed
income group or salaried classes not only to customers in urban areas or
cities, but also to customers residing in rural area. Among the various
financial services rendered by commercial banks and other financial
institutions, extending their credit card facility to customers is an
important modern-day function. There may be the so in the initial stage, but
when once a customer gets used to the credit cards, they will know how to
use the it in a discretionary manner.

 (Choudhary et al., 2018) ‘Plastic Money Usage Trends in India’ Plastic

money usage in India has witnessed significant growth over the past
decade. With the government’s push towards digital payments and the rise
of e-commerce, more individuals are adopting plastic money as a
convenient and secure payment method. However, despite this growth,
there are still several factors that influence its adoption and usage.

 P. Sathiya Bama, Dr. k. Gunasundari (2016) in the resarch paper

‘Challenges and Future Prospects of Plastic Money’ talk about the
challenges that plastic money is facing in the current world relating to
safety, availability and convenience and how plastic money is likely to
evolve in the future. It concludes how easier it is for people in the modern-
day world to make payments through plastic money than to carry a lot of
cash. It has proven to be hassle-free and there is a phenomenal increase in
the efficiency of technology that promotes cashless transactions.
Moreover, people have now started ignoring the few disadvantages just
because of the greater advantages and potential benefits.
 Bisht and P. Nair (2015) in the paper ‘Analysis of the use of plastic
money’ A bane ‘highlights certain features which affects the usage of
plastic money in India exposed consumer’s favourable attitude towards
plastic money over paper money and their preference of using debit card
over credit cards because of their cash back policy, control over spending
and security. Plastic money is mainly used for paying for utilities and
online transactions. Major Problems involving plastic money is the fear
among consumers of losing card and high unnecessary formalities.

 (Gupta & Bansal, 2019) ‘Awareness and knowledge’ Lack of awareness

and knowledge about plastic money is another factor hampering its
adoption in India. Many individuals, especially in rural areas, are not
familiar with the concept of plastic money or how to use it. Educating the
population about the benefits, usage and security measures of plastic
money is crucial for increasing its usage.

 Surbhi Jain (2016) in the resarch paper ‘Customers attitude towards

plastic money’ studies the use of plastic money and evaluates the risks
and the consumer’s attitude towards plastic money. The study shows how
paper money has become riskier in comparison to plastic money in the
current world. It also shows the effects on online shopping with use of
plastic cards, and how people are enjoying the perks of credit benefit. It
concludes how there is a very bright future for plastic money in the
coming years because of the increasing trend of e-commerce.
 CHAPTER – 3

RESEARCH METHODOLOGY
 RESEARCH METHADOLOGY

To study the factors affecting the usage of plastic money in district kangra

Research objectives

 To examine the awareness and Knowledge of plastic money among

Indian consumers.
 To identify the factors that influence the adoption and usage of credit
and debit cards.
 To evaluate the role of convenience , security and rewards programs in
influencing plastic money usage.

Sample Size

100 sample units are used in this study

Source of Data
 DATA COLLECTION METHOD

The study is based on both of Primary and secondary data.

Primary Data -: Under Primary Data Collection, the research chosen was
Quantitative Research as the data collected can be represented in terms of
numbers. For greater reach, survey was chosen under Quantitative
Research. Structured Questionnaire was used, where everything is
predetermined right from research design to samples and to questions.

Secondary Data -: Under Secondary Data collection, existing research

papers were referred for the basis of paper.

Research design

Due to this study there will be survey research; where the

questionnaire will be used as data collection method to obtain data
from 100 sample of factors affecting plastic money usage.

Part 1

Questionnaire will contain demographic data of respondent name,

gender, age, education qualification etc.

Part 2

Questionnaires will contain information about preferences, mode etc.

Part 3

Question will be regarding price, preferences, mode etc.

 CHAPTER - 4
DATA ANALYSIS
 DATA ANALYSIS AND INTERPRETATION

 Age group of the Respondents.

FACTORS NUMBER OF OFPERCENTAGE

RESPONDENTS
18 – 25 years 25 25 %
26 – 35 years 40 40 %
36 – 45 years 31 31 %
46 & Above 4 4%
years

46 & Above 4%

36 - 45 31%

26 - 35 40%

18 - 25 25%

0% 5% 10% 15% 20% 25% 30% 35% 40%

Percentage

INTERPRETATION

In the above table shows that age up to 26 – 35, are maximum aware
about the Plastic Money.
 Gender of the Respondents.

FACTORS NUMBER OF PERCENTAGE

RESPONDENTS
Male 59 59 %
Female 41 41 %

Female 41%

Male 59%

0% 10% 20% 30% 40% 50% 60%

Percentage

INTERPRETATION

In the above table it is observed that maximum numbers of

respondents are male.
 Education Qualification of the Respondents.

FACTORS NUMBER OF PERCENTAGE

RESPONDENTS
10th Nil Nil
12th 7 7%
Under Graduate 35 35 %
Post Graduate 33 33 %
Above PG 25 25 %

Above PG 25%

Post Graduate 33%

Under Graduate 35%

12th 7%

10th 0%

0% 5% 10% 15% 20% 25% 30% 35%

Percentage

INTERPRETATION

In the above the table shows that 35% respondents are Under
Graduate, 33% Post Graduate, 25% Above PG, 33% Post
Graduate.
 Occupation of the Respondents.

FACTORS NUMBER OF PERCENTAGE

RESPONDENTS
Private Employee 24 24 %
Govt. Employee 8 8%
Professional 17 17 %
Student 47 47 %
Other 4 4%

Other 4%

Student 47%

Professional 17%

Govt. Employee 8%

Private Employee 24%

0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50%

Percentage

INTERPRETATION

In the above the table shows that 47% respondents are Student, 24%
Private Employee, 17% Professional, 8% Govt. Employee, 4% Other.
1. Do you have any type of plastic card.

FACTORS NUMBER OF PERCENTAGE

RESPONDENTS
Yes 82 82 %
No 18 18 %

No 18%

Yes 82%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

Percentage

INTERPRETATION

In the above table shows that 82% people use different type of plastic
card , 18% people are not use different type of plastic card.
2. How frequently do you use plastic money for making payments.

FACTORS NUMBER OF PERCENTAGE

RESPONDENTS
Daily 2 2%
Weekly 23 23 %
Monthly 50 50 %
Occasionally 22 22 %
Never 3 3%

Never 3%

Occasionally 22%

Monthly 50%

Weekly 23%

Daily 2%

0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50%

Percentage

INTERPRETATION

In the above table shows that 50% people use plastic money for making
payments Monthly, 23% Weekly, 22% Occasionally, 3% Never, 2%
Daily.
3. What are the main reasons for using plastic money instead of
cash ?

FACTORS NUMBER OF PERCENTAGE

RESPONDENTS
Convenience 38 38 %
Secqurity 18 18 %
Cash back/ rewards 14 14 %
Easy tracking of 15 15 %
expenses
Accepted widely 14 14 %
Other 1 1%

Other 1%

Accepted widely 14%

Easy tracking of Expenses 15%

Cash back/ rewards 14%

Sequrity 18%

Convenience 38%

0% 5% 10% 15% 20% 25% 30% 35% 40%

Percentage

INTERPRETATION

In the above table shows that 38% people using plastic money instead of
cash because it’s Convenience, 18% Sequrity, 15% Easy tracking of
expenses, 14% Cash back/ rewards, 14% Accepted widely, 1% Other.
4. What factors do you consider when selecting a bank or financial
institution for your plastic money usage.

FACTORS NUMBER OF PERCENTAGE

RESPONDENTS
Reputation and
trustworthiness 11 11 %
Availability of rewards 22 22 %
and cash back offers
Low fees and charges 9 9%
Wide network of ATMs 10 10 %
And branches
User-friendly mobile 48 48 %
App and online banking

User-friendly mobile app and online 48%

banking

Wide network of ATMs and branches 10%

Low fees and charges 9%

Availability of rewards and 22%

Reputation and trustworthiness 11%

0% 10% 20% 30% 40% 50%

Percentage

INTERPRETATION
In the above table shows that 48% customer selecting a bank or financial
instituttion for your plastic money usage User-friendly mobile app and
online banking, 22% Availability of rewards and cash back offers, 11%
Reputation and trustworthiness, 10% Wide network of ATMs and
branches, 9% Low fees and charges.

5. Are you aware of credit and debit card.

 FACTORS NUMBER OF PERCENTAGE
RESPONDENTS
Agree
85 85 %

Disagree 15 15 %

Disagree 15%

Agree 85%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

Percentage

INTERPRETATION

In the above shows that 85% people aware of credit and debit card,
15% people are not aware of credit and debit card.
6. Are you aware of the benefits and rewards associated with
plastic money.

FACTORS NUMBER OF PERCENTAGE

RESPONDENTS
Yes, very aware 17 17 %
Somewhat aware 60 60 %
Not very aware 18 18 %
Not aware at all 5 5%

Not aware at all 5%

Not very aware 18%

Somewhat aware 60%

Yes, very aware 17%

0% 10% 20% 30% 40% 50% 60%

Percentage

INTERPRETATION

In the above the table shows that people aware the benefits and
rewards of plastic money 60% Somewhat aware, 18% Not very aware,
17% Yes, very aware, 5% Not aware at all.
7. What are the main reasons for not using plastic money for
transactions.

FACTORS NUMBER OF PERCENTAGE

RESPONDENTS
Lack of trust in security 5 5%
Limited acceptance 28 28 %
High fees and charges 11 11 %
Prefer using cash 42 42 %
Lack of awareness 13 13 %
about plastic money
benefits
Other 1 1%

Other 1%

Lack of awareness about plastic 13%

money benefits

Prefer using cash 42%

High fees and charges 11%

Limited acceptance 28%

Lack of trust in security 5%

0% 5% 10% 15% 20% 25% 30% 35% 40% 45%

Percentage

INTERPRETATION

In the above table shows that what are the main reasons for not using
plastic money for transaction 42% Prefer using cash, 28% Limited
acceptance, 13% Lack of awareness about plastic money benefits, 5%
Lack of trust in security, 1% Other.
8. Are you aware of any initiative or compaigns that promote the
usage of plastic money in India.

FACTORS NUMBER OF PERCENTAGE

RESPONDENTS
Yes
92 92 %
No 8 8%

No 8%

Yes 92%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Percentage

INTERPRETATION

In the above the table shows that 92% people aware of any initiative
or campaigns that promote usage of plastic money in India, 8% people
are not aware.
9. Plastic money will penetrate in society more in future.

FACTORS NUMBER OF PERCENTAGE

RESPONDENTS
Strongly Agree
17 17 %

Agree 54 54 %

Disagree 27 27 %

Strongly Disagree 2 2%

Strongly 2%
Disagree

Disagree 27%

Agree 54%

Strongly Agree 17%

0% 10% 20% 30% 40% 50% 60%

Percentage

INTERPRETATION

In the above table shows that plastic money will penetrate in society
more in future 54% people Agree, 27% Disagree, 17% Strongly Agree,
2% Strongly Disagree.
10. Are you concerned about the privacy of your personal and
financial information when using plastic money.

FACTORS NUMBER OF PERCENTAGE

RESPONDENTS
Very concerned 31 31 %
Concerned 46 46 %
Not very concerned 19 19 %
Not concerned at all 4 4%

Not concerned at all 4%

Not very concerned 19%

Concerned 46%

Very concerned 31%

0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50%

Percentage

INTERPRETATION

In the above the table shows that 46% people are concerned about the
privacy of your personal and financial information when using plastic
 money, 31% Very concerned, 19% Not very concerned, 4% Not
concerned at all.

11. How important is the convenience factor in influenceing your

decision to use plastic money.

FACTORS NUMBER OF PERCENTAGE

RESPONDENTS
Extremely important 14 14 %
Very important 44 44 %
Somewhat important 30 30 %
Not very important 9 9%
Not at all important 3 3%

Not at all important 3%

Not very important 9%

Somewhat important 30%

Very important 44%

Extremely important 14%

0% 5% 10% 15% 20% 25% 30% 35% 40% 45%

Percentage

INTERPRETATION
 In the above table shows that what convenience factor influenceing
your decision to use plastic money 44% Very important, 30%
Somewhat important, 14% Extremely important, 9% Not very
important, 3% Not at all important.

12. Are you satisfied with the customer service provided by your
plastic money provider ( bank, wallet provider etc ).

FACTORS NUMBER OF PERCENTAGE

RESPONDENTS
Very satisfied 25 25 %
Satisfied 40 40 %
Neutral 28 28 %
Dissatisfied 7 7%
Very dissatisfied Nil Nil

Very dissatisfied 0%

Dissatisfied 7%

Neutral 28%

Satisfied 40%

Very satisfied 25%

0% 5% 10% 15% 20% 25% 30% 35% 40%

Percentage

INTERPRETATION

In the above the table shows that how many people satisfied with the
customer service provided by your plastic money provider (bank,
 wallet provider etc). 40% satisfied, 28% Neutral, 25% Very satisfied,
7% Dissatisfied, Null very dissatisfied.

13. Have you ever experienced any fraudulent activities or

unauthorised translations while using plastic money.

FACTORS NUMBER OF PERCENTAGE

RESPONDENTS
Yes
91 91 %

No 9 9%

No 9%

Yes 91%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Percentage
 INTERPRETATION

In the above table shows that 90% of people are experienced

fraudulent activities or unauthoried transactions while using plastic
money.

14. How would you rate your level of trust in the security of plastic
money transactions.

FACTORS NUMBER OF PERCENTAGE

RESPONDENTS
Very high 19 19 %
High
32 32 %

Moderate 39 39 %

Low 7 7%

Very low 3 3%
Very low 3%

Low 7%

Moderate 39%

High 32%

Very high 19%

0% 5% 10% 15% 20% 25% 30% 35% 40%

Percentage

INTERPRETATION

In the above the table shows that how would you rate your level of
trust in the security of plastic money transactions 39% Moderate,
32% High, 19% Very high, 7% Low , 3% Very low.

15. How will-informed do you feel about the features and benefits of
plastic money.

FACTORS NUMBER OF PERCENTAGE

RESPONDENTS
Very well-informed
57 57 %
Moderately informed 39 39 %
Not well-informed 4 4%
 Not well-informed 4%

Moderately informed 39%

Very well-informed 57%

0% 10% 20% 30% 40% 50% 60%

Percentage

INTERPRETATION

In the above table shows that how will-informed do you feel about the
features and benefits of plastic money 57% Very well-informed , 39%
Moderately informed, 4% Not well-informed.

Findings

1. Majority of the respondents are male (59) and remaining are female.
Plastic cards are mostly carried and used by the males than females.

2.

2. Awareness and education : Lack of awareness and understanding

about the benefits and data breaches.
 3. The respondents whose education level is high have positive opinion
regarding plastic money while the lower level education respondents
have negative opinion.

4.

5.

6. The introduction of ATM machines has changed the banking process

also, Customers are preferring the ATM machines now to days due to
that frequency of customers to visit the banks have become less.

7. The main influencing factors for the respondents for using Plastic
Money are convenient, secure way of transaction, reduce the time
pressure are the leading reason of using the plastic money, on the
contrary use of cards also risky in some cases, likelihood of getting fake
notes from ATM or the non availability of money are the dissatisfactory
cause that people are facing while using plastic money.

SUGGESTONS

1. Safety in the Plastic money is an important factor that includes its usage.
Multiple level of security should be insured like Password OTP ( One
Time Passward ), use of HTTPS (secured sites ) instead of HTTP etc.

2. More facility should be provided to the cashholder in order to satisfy

them completely.
3. About 71% of the people are feeling that the plastic money will
penetrate in society, So we can conclude that the future of plastic
money in India seem to be bright.

4. The main reason for the increase in plastic money is that the customers
are not a victim of a fraud except 9 % of them.

5. Transaction charges on online transactions should be wavied off to

induce the people to use Plastic cards more.

6. Enhanced security measures : Implement stricter measures to build

trust and confidence among users.

7. Financial inclusion : Provide financial literacy programs to improve

digital literacy and promote the use of plastic money.

8. Incentives : Offer rewards, cashback or discounts to encourage the use

of plastic money.
Recommendations
 CONCLUSION
Our primary objective was to understand the various factors which influence
the decision of individuals to get plastic money, and also the factors that
influence their use and frequency. As per our learnings from the literature
reviews, we formed several sub-objectives which helped us to assess the the
several factos with which we could proceed our study with.
We can observe that non-users believe that using plastic money increases
their average expenditure. [Link] (2013), also, in his research paper,
states this as a commonly believed myth. Among the users, we observe that
most respondents use plastic money majorly for online payments and also
for utility bill overheads. This is also stated by A. Bisht and Nirmala R. Sonu
(2015) in their respective research papers. Some customers avoid credit
cards because of its complex nature. Among all the respondents that do not
use plastic money, 60% of them belonged to the age group of 36 years and
above indicating their lack of awareness and high level of perceived
complexity.
One interesting point we noted was that most of the respondents considered
debt burden and higher than average spending are major disadvantages of
using plastic money.
The main factors affecting use of credit card in India, among the urban
consumers were found to be age group, satisfaction and convenience level.
Respondents in the younger age group tend to spend more than the ones in
the older age group. People who find it more convenient to use and are
satisfied with it are inclined towards spending more than the people who do
not. We noticed that income group and gender did not significantly affect
usage of plastic money.

References
 QUESTIONNARIE

Name :

Gender : Male  Female 

Age groups : 18 - 25 years  26 - 35 years  36 - 40 years  46 & Above 

Education Qualification : 10th  12th  Under Graduate  Post Graduate

Above PG.  Other 

Occupation ; Private Employee  Govt. Employee  Professional 

Student  Other 

1. Do you have any type of plastic card.

Yes
No

If Yes the tick the appropriate type

1. ATM/Debit card
2. Credit card
3. Both
 4. Other
2. How frequently do you use plastic money making payments.

Daily
Weekly
Monthly
Occasionall
y
Never

3. What are the main reasons for using plastic money instead of cash ?
Convenience
Security
Cash back / rewards
Easy tracking of expenses
Accepted widely
Other

4. What factors do you consider when selecting a bank or financial institution for
your plastic money usage.

Reputation and trustworthiness

Availability of rewards and cash
back offers
Low fees and charges
Wide network of ATMs and branches
User-friendly mobile app and online
Banking services

5. Are you aware of credit and debit cards.

Agree
Disagree
6. Are you aware of the benefits and rewards associated with plastic money usage.

Yes, very aware

Somewhat aware
Not very aware
Not aware at all

7. What are the main reasons for not using plastic money usage.

Lack of trust in security

Limited acceptance
High fees and charges
Prefer using cash
Lack of awareness about
plastic money benefits
Other
8. Are you aware of any initiative or campaigns that promote the usage of plastic
money in India.

Yes
No

9. Plastic money will penetrate in society more in future.

Strongly Agree
Agree
Disagree
Strongly Disagree

10. Are you concerned about the privacy of your personal and financial information
when using plastic money.
Very concerned
Concerned
Not very concerned at all
 Not concerned at all

11. How important is the convenience factors in influencing your decision to use
plastic money.
Extremely important
Very important
Somewhat important
Not very important
Not at all important

12. Are you satisfied with the customer service provided by your plastic money
provider (bank, wallet provider, etc.
Very satisfied
Satisfied
Neutral
Dissatisfied
Very dissatisfied
13. Have you ever experienced any fraudulent activities or unauthorised transactions
while using plastic money.

Yes
No

14. How would you rate your level of trust in the security of plastic money
transactions.
Very high
High
Moderate
Low
Very low

15. How will-informed do you feel about the features and benefits of plastic
money.
Very well-informed
Moderately informed
Not well-informed