2022, Vol. 3, Issue 1, Part B
Impact of plastic money on traditional payment systems
Author(s): Mandeep Kaur
Abstract: This study investigates the impact of plastic money—credit and debit cards—on traditional cash-based payment systems, with a focus on developing regions where digital payments are rapidly gaining traction. By examining consumer perceptions, demographic influences, and usage patterns, this research explores how plastic money adoption is reshaping payment behaviors and reducing cash dependency. Data was collected from 150 respondents using structured questionnaires, and statistical analyses, including ANOVA, chi-square, and correlation tests, were conducted to assess the relationships between demographic factors and payment preferences. The findings reveal a notable shift in consumer preference from cash to plastic money, primarily driven by perceived convenience, security, and the incentive structures associated with card usage. Demographic variables such as age, income, and education level significantly influence these preferences, with younger and more financially literate individuals showing a stronger inclination toward plastic money. The study also highlights fraud concerns as a barrier to broader adoption, emphasizing the need for robust security measures to build consumer trust. These insights are valuable for banks, retailers, and policymakers seeking to support a secure and inclusive transition to digital payment systems that align with evolving consumer expectations in an increasingly cashless economy.
Pages: 86-91 | Views: 1072 | Downloads: 650
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How to cite this article:
Mandeep Kaur. Impact of plastic money on traditional payment systems. Asian J Manage Commerce 2022;3(1):86-91.
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