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Body of Knowledge

Types of Plastic money: Credit card, Debit card & Reward card Credit card (also called a charge card) A card that authorizes the cardholder to make a purchase by granting a line of credit that will be paid back to the card company at a later date, possibly in instalments. Examples include: Visa, MasterCard, Discover, American Express, and cards branded by retail, gasoline, or other companies. Debit card (also called a check card) A card that allows the cardholder to make a payment that is deducted directly from a bank account at the time of purchase or bill payment. A debit card may have a Visa or MasterCard logo, but it is not a credit card. A debit card also works as an ATM card. Prepaid card (called a stored value card or gift card) A card that can be used for payments up to the amount of money stored (or loaded) on the card. Often these cards may have a Visa or MasterCard logo, but they are not credit or debit cards. Examples include: general purpose, specific purpose (retailers, telephone, public transportation, etc.) How a transaction is carried out with plastic money:

Problem Definition
The research has 3 broad problems: 1. Lack of Customer Awareness regarding payment cards 2. Tendency to substitute Cash for payment cards 3. Illegitimate use of cards (frauds & thefts)

Draft Research Proposal


We aim to survey 150 people from the suburb of Ahmedabad. We would use a structured undisguised questionnaire for the purpose of the survey. The questionnaire would include questions regarding peoples awareness of credit-debit card. Then correlation between the customer awareness & Cash substitutability as well as correlation between customer awareness & frauds would be found out. Results would provide insights.

Need for Study


We feel that the public is not fully aware about modern payment systems which are user friendly, secure & hassle free. In one of our research paper titled: Consumer awareness and the use of payment media: Evidence from young Finnish consumers; the authors (Hyytinen. A. & Takalo. T., 2008) have made a significant conclusion about the relative impact of awareness on the consumers tendency to switch to payment cards from cash/check payments. Secondly, consumer awareness regarding the usage of creditdebit cards can help them guard against theft & frauds. It being a little technical, people face difficulties in usage and hence end up being robbed. Therefore for this industry to survive & grow, consumer awareness stands to be the foundation.

Research Methodology
Data Sources: Primary source would be the people from the suburbs of Ahmedabad. Secondary source would be Internet, Research papers, Articles, etc. Sampling Method: Convenience sampling will be used to sample units from population.

Probable Implication
One can imply that there is great potential for this industry. But the hurdle of frauds and customer awareness is preventing it to exploit the potent market in India. This research would contribute to the knowledge of the card industry players in Ahmedabad to help them know the level of awareness of people and how it can contribute to the extensive widening of demand and at the same time reduce the possibilities of fraud and thefts on such cards.