REVIEW OF LITERATURE Gupta Gupta Promod Promod (2004) (2004) in his articl articlee The Future of Plastic Money , discussed the use of Plastic Money and its growth in India in recent years. e identified that the !se of Plastic Money is growing at an unprecedented rate in India. "esser num#er of installed Points $ of$ %ale (Po%) terminals is the ma&or o#stacle in the growth of de#t cards. %mart 'ard has many innoatie features which may spurt the use of cards in India. %mart 'ard is safer to use in electronic form than the present form of cards
hargaa(20 hargaa(2004) 04) title title “Debit ar!s" # A $e% &eneration Plastic Money" analyses that de#it cards are fast catching up with the customers. * com#ination of factors li+e ease of aaila#ility de#it aderse profile of customer and ero interest rate are propelling the usage of de#it card. -he study emphasies emphasies to increase increase the usage of these words #an+ will need to impro improe e infras infrastru tructu cture re and continu continuous ous to focus focus an increas increasing ing instal installat lation ionss of point point of sale(pos) in smaller cities and on the locations which are freuently used #y cardholders and to deelop new mar+eting programmers that educate customers on the #enefits of replacing cash with plastic.
cre!itcar!s in In!ia 1, %aha,-apash /an&an(200), in the article “Debit car!s o'erta(in) cre!itcar!s proided comparatie features of #oth credit cards and de#it cardsand its olume of transactions from 33 to 200, shows that de#it cards growthis out placing the credit cards.
%arangapani, *. and -. Mamatha (2005) in their article 6The )ro%in) *ro+inence of !ebit car!s an! cre!it car!s in the In!ian ban(in) in!ustry" , highlighted the growing prominence of de#it and credit cards #y giing necessary statistics, comparatie features of #oth cards and also pointed out more popularity of de#it de# it cards than credit cards. 7rom the reiew of studies cited a#oe, it can #e found that most of the studies are related with determinants of usage patterns of credit cards and de#it cards, security aspect of plastic money, de#it card and credit card frauds and their preention, economics of card usage, attitu attitude de toward towardss plasti plasticc money money,, compara comparati tie e studie studiess of old and modem modem instru instrumen ments, ts, custom customer er accepta acceptance nce and usage usage patter patterns, ns, general general iew iew of plast plastic ic money money etc. etc. %tudie %tudiess pertaining to plastic money on #usiness deals are ery few in num#ers and hence, the present study on the ealuation of plastic money on #usiness deals in 8erala has #een underta+en.
Mandeep 8aur and 8amalpreet 8aur (2005), in their article, “De'elo*+ent of Debit ar!s Mar(et# Past, Present an! Future -cenario in In!ian .an(s" conclude that Indian #an+ing sector is accepting the challenge of information technology as all the groups of #an+ers hae now recognied it as essential reuirement for their surial and growth in future 9espite the strong adances in e$payments, an estimated 30 percent of personal consumption e:penditure in India is still made with cash which indicates the tremendous growth potential of this #usiness. %o this can #e considered as mere #eginning which indicates the #right future prospects of plastic card mar+et in India.
*#dul$Muhmin and *lhassan G(200) conducted a study to e:amine “/o% the +onetary 'alue of a retail transaction i+*acts consu+er0s *references for cash, !ebit an! cre!it car! *ay+ent +o!e"1 It was tested with the hypothesis that at retail point of purchase, cash, de#it and credit cards will #e preferred payment modes for low, medium$ and high$ alue transactions respectiely. -he hypothesis was tested in an e:perimental surey in which a sample of 4;; respondents indicate which payment mode they would most li+ely use for each of the ten products that ary systematically in list prices. -he results offered #roader support for the hypothesis. Preferences were low for de#it and credit card payment at low transaction alues, while those for de#it and cash payment were similar at larger transaction alues. -his suggested that electronic payment modes were collectiely a su#stitute for cash for low transaction alues, whilst credit cards were a su#stitute for cash and de#it cards for high transaction alues. * +ey implication of the results was that it may #e possi#le to persuade consumers in the study conte:t to use electronic payments for small$alue transactions #y ino+ing and ma+ing salient, conenien ce considerations that were purported to drie preferences for cash pa yment for such purchases. -he results also offered an alternatie e:planation for the continuing dominance of cash transactions in modern economies, and outlined implications for promoting consumer use of electronic payment modes at retail point of purchase.
-homas 7oscht, 'esar Maloles III and ernhard %wo#oda, %wee$"im 'hia (200) e:amined “The lin( bet%een the choices of *ay+ent +o!e an! co+*are! the usa)e of !ebit car!s %ith cre!it car!s an! its i+*act on custo+er satisfaction an! loyalty in the Austrian +ar(et"1 -he customers of a particular *ustrian proince were selected and categoried #ased on *ustrian census. * structured uestionnaire was administered in person among <0 *ustrian #an+ customers. 7or the analysis, fie hypotheses were proposed. 7our of the fie hypotheses were supported, while one had partial support. -he results indicated that a person=s preference for a particular payment method is dependent on his>her personal characteristics. *dditionally, the payment method=s features and characteristics influenced its desira#ility and acceptance. 7urthermore, a person=s e:pectations had an impact on his>her attitude towards the payment method. -he study also found that positie e:pectations, performance, and desires led to customer satisfaction which in turn leads to a higher degree of intent to use the payment method.
ansi Patel and !ri *min (202) in their research paper “Debit car! +oney# Roa! +ay To%ar!s ash Less -ociety" discussed that now days in any transaction Plastic money #ecomes ineita#le part of transaction and with it life #ecomes more easy and deelopment would ta+e #etter place and along with the plastic money it #ecomes possi#le that control the money laundry and effectie utiliation of financial system would #ecome possi#le which would also helpful for ta: legislation. In this research paper an attempt has #een made to study an oeriew of the deelopment of #an+ing in de#it card usage trends since these hae #een introduced in Indian #an+ing sectors. -he study also highlights the role these cards as electronic payment tool to #e used #y customer and +now these cards in replacement of cash and paper money
%harma (202 )in her research paper “Debit car! frau!s an! the counter+easures# to%ar!s a safer *ay+ent +echanis+" hae thrown light on the num#er of frauds increased considera#ly in usage of plastic cards as in case of de#it card frauds the most affected parties are the merchants of goods and serices as they hae to #ear the full lia#ility for losses due to frauds, the #an+s also #ears some cost especially the indirect cost whereas the cardholders are least affected #ecause of limited consumer lia#ility and concluded that all these losses can #e dealt with #y ma+ing the prudent use of the new technology and ta+ing the respectie counter measures.
