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What is Plastic Money?

Important banking qna for banking aspirants, which is helpful in banking exam.

Apr 16, 2015 04:20 IST
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Plastic Money is emerged at the end of 20th century following the introduction of credit cards. At the beginning credit card was classified also as a credit more but introduction of debit card and ATM cards influenced the establishments of another form of currency that is plastic money. 

PIN (Personal Identification Number) code is required to perform transaction with the plastic money.

Examples of Plastic money are

  • Credit Card
  • Debit Card
  • ATM Car d
  • Smart Card

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