31-01-2015, 02:49 AM
I need project on consumer perception towards plastic money
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consumer perception on plastic money
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I need project on consumer perception towards plastic money
15-03-2017, 12:38 PM
Use of plastic money
Plastic money used by several respondents, so the importance of a particular type of plastic money could be judged. If the plastic money used has any relation to age, gender, income, occupation and educational level or not.
While credit cards have been introduced in developed countries decades ago, their introduction into developing countries like Bangladesh is relatively new. With the advance of technology, a dramatic change in the financial sector has been observed especially in the banking sector in Bangladesh. One of the notable developments in the banking sector is "plastic money". The development of plastic money is probably one of the most significant phenomena of the modern banking era, which has a huge impact on the financial sector. Now banks are providing online transaction facilities, bill payment facilities and so on. Here, the term "plastic money" is used predominantly in reference to hard plastic cards used instead of real banknotes, such as cash cards, credit cards, debit cards, prepaid cash cards and cards Of store. The traditional cash payment system is gradually being replaced by these debit and credit cards. Banks are competing to entice customers to use this plastic money. They are trying to improve their credit / debit card services simultaneously. The preference of using plastic money for customers is growing rapidly. Now day people do not prefer to carry cash with them; Instead they like to keep the cards in their wallets or in purses. Because carrying wads of cash for a weekly or monthly purchase is risky as there is a possibility of losing money to thieves or kidnappers and not having enough when one arrives at the checkout counter is embarrassing. Plastic money seems to be a more convenient and safe option for customers as a mode of payment. Banks are introducing new services and new offers through these cards. Interestingly, customers who are accustomed to using cards, do not feel comfortable or are not willing to buy goods or services through cash. Apart from withdrawing money from an ATM or trading at a POS in a retail market, plastic money brings greater security, portability, 24-hour accessibility to account balances, easy payment of utility bills Monthly collections, transfer of funds between accounts. In a developing country like Bangladesh, higher-value purchases are increasingly being made through plastic money and customers have the opportunity to buy high-value products in installments. With these immense benefits, plastic money is gradually becoming the main mode of transaction in Bangladesh. But there are still many limitations and problems that prevail in terms of using plastic money, especially in the context of Bangladesh. Therefore, if the problems and prospects faced by end users are known, they can be addressed and steps can be taken to improve. In that connotation, the study is an attempt to uncover the perception of card users in Bangladesh. In the process, based on responses from users of plastic money in Bangladesh, this study aimed to analyze respondents' perceptions about the uses of plastic money.
LITERATURE REVIEW
The literature review noted that most research work in this area so far has only been limited to developed countries such as the United States and other developing countries. But research remains insufficient in the case of India. It was also noted that almost no extensive study has been conducted in India to examine the perception of cardholders as well as establishments that use plastic money. In addition, existing studies have focused predominantly on the use of debit cards or credit cards, but mostly ignored the joint impact and the latest innovative cards. The contemporary study also considers factors such as age, gender, educational qualification, monthly income and occupation. It also assesses the current state and developments of plastic money in India. Among contemporary monetary theories, there is a strong practice of investigating the coexistence of money and credit. The first model with negotiation, money and credit shows that money can coexist with credit that produces a higher rate of return. The balance with money and credit can be sustained if individual stories are made public with a delay. In another approach, loans are bank loans in an environment with limited application. However, money remains the only means of payment, since goods transactions remain private information for banks. Money and credit coexist in a model of divisible money with imperfect memory, limited commitment, and theft, while a model developed with credit and liquid assets exists to examine the relationship between unsecured debt and unemployment. The costly accounting model was introduced on the basis of the money model and the expensive credit; Although it has been observed that debts are derived from a limited commitment rather than assuming that loan payments can be perfectly applied. Later, in another costly record-keeping model, attention was focused on the buyer's choice of payments used in bilateral meetings. The role of money and credit is analyzed in another model with anonymity, limited commitment and imperfect record keeping. The key difference in configuration is that they adopt a different price mechanism assuming a boring-take-all-bargaining solution. The reputation of plastic money as a means of payment has been associated with the facilitation of not carrying cash and checks, limited liability for lost and stolen cards, and additional increases such as dispute resolution services and benefits. Consumer towards the use and acceptability of plastic money differ for psychographic reasons. Xiao and Anderson developed a 38-item scale to measure effectiveness, psychological and behavioral attitudes towards plastic money.
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