Essay on use of plastic money

Inthe only polymer note for general circulation in Indonesia, therupiah note issued inwas re-issued on paper. Ina 1 dinar note was also issued to commemorate the 10th anniversary of the Liberation of Kuwait. Statements consisting only of original research should be removed.

InAustralia began issuing a full set of polymer notes for general circulation. Pre-paid Cash Cards — As the name suggests the user will add credit to the card themselves, and will not exceed that amount. In the summer ofVietnam issued a dong commemorative banknote.

The first patent arising from the development of polymer banknotes was filed in BOPP is a non-fibrous and non-porous polymer. You can shop whenever you want and you can make the payment instantly either with a Credit card or a Debit card.

While there is no official credit facility with debit cards per se, as it is linked to the bank account the limit is the limit of what is in the account, for instance if an overdraft facility is available then the limit will be the extent of the overdraft.

Paper or Plastic? 5 Reasons to Use Cash Over Credit

Cards which carry the Master or Visa affiliation are more widely accepted across the country compared to Diners and American Express cards. Plastic money or polymer money, made out of plastic, is a new and easier way of paying for goods and services.

In DecemberBangladesh issued Taka polymer notes. This is why smaller establishments often opt to work on a cash-only basis. How to cite this page Choose cite format: The only remaining denomination not in polymer is the 5 kina note.

Almost every bank has launched a card, so the biggest hurdle we face is in trying to choose from amongst them. Having earlier worked in a firm that designed and constructed synthetic fibre plants, Bentley-Johnston recognised the polymer nature of the new banknote and so proposed the use of that term.

It was originally planned that this denomination was to be replaced by a coin of the same denomination, but public input convinced the Maldives Monetary Authority to go for the note.

As ofat least seven countries have converted fully to polymer banknotes: Carrying cash in itself was a great threat than anything else. The Isle of Man issued a 1-pound Bradvek banknote which circulated from to On 1 DecemberRomania started issuing a revised version of the 10 lei banknote.

These cards can be charged at a very high interest rate and can are limited in the places they can be used, sometimes as far as only the store brand that issued it.

InThailand issued both a 50 and a bank note commemorating the 50th anniversary of the reign of Bhumibol Adulyadej. Opacifying — two layers of ink usually opaque white are applied to each side of the note, except for any areas deliberately left clear; Sheeting — polymer substrate roll is cut into sheets to suit a flatsheet printing press; Printing — traditional offsetintaglio and letterpress printing processes are used; and Overcoating — notes are coated with a protective varnish.

Even though there existed a very strong banking industry the business was more dependent on cash transactions than the banking channel due to the lack of information with regard to the credit worthiness o the customers and the inherent delay in collections.

Plastic money Essay

But if we are value-for-money persons who like the convenience offered by a card, but will alternate between paying by cash and card, we could consider credit cards offered by the public sector banks. Inthe British printers Bradbury Wilkinson produced a promotional version of polymer banknotes which were marketed as Bradvek.

Both overspending and overeating are issues of impulse control, researchers say.

Plastic Money Essay

This paradigm shift has both positive and negative consequences and this essay deals both with them. These included the commemorative lei note which was issued to celebrate the last eclipse of the millennium.

655 Words Essay on credit card or plastic money

But there is one precaution we should add. The average interest rate for a credit card is a steep Unfortunately, in tropical climates, ink did not bind well to the polymer and the notes began smearing quite badly. Carrying cash in itself was a great threat than anything else.The Effects Of Plastic Waste Environmental Sciences Essay.

All of this cost a lot of money because finding alternatives require a lot of researches and studies which is expensive either.

Polymer banknote

materials for the petrol so they suggested to use oil shale and tar oil but it still fresh-air-purifiers.coms people use plastic in big amount which can. Paper or Plastic? 5 Reasons to Use Cash Over Credit. by Carla Blair Published: August 14, you should consider the perils of plastic and benefits of cash.

The idea that we spend more money and make more purchases when we use credit cards isn’t surprising. What we’re buying with cards, however, may come as a bit of a shock.

Cards/plastic money is not a complete replacement for cash Use of cards can also be risky in some cases Note: I’m not saying that cards are not useful because of these drawbacks.

Here is your short essay on Plastic Money

| P a g e ANALYSIS OF THE USE OF PLASTIC MONEY Nirmala. R1, Sonu2 1,2 Аsst. Prof., Commerce Department, Govt. College, Hisаr, Hаryаnа, (India) ABSTRACT Over the past few decades, a small fragment of plastic has revolutionized the way consumers pay.

Free Essay: Introduction to Plastic money: The recent growth in the use of plastic money mainly credit and debit cards has been phenomenal. There are. Plastic money is a term that is used predominantly in reference to the hard plastic cards we use every day in place of actual bank notes.

They can come in many different forms such as cash cards, credit cards, debit cards, pre-paid cash cards and store cards.

Essay on use of plastic money
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