IELTS Essay 1205 - Plastic money replacements are.
Plastic money or polymer money, made out of plastic, is a new and easier way of paying for goods and services. Plastic money was introduced in the 1950s and is now an essential form of ready money which reduces the risk of handling a huge amount of cash. It includes debit cards, ATMs, smart cards, etc.
Essay topic: Nowadays plastic money replacements such as credit and debit cards are extremely popular, even more than banknotes and coins. Discuss the advantages and disadvantages of this. Using plastic money, including debit and credit cards instead of cash, offers significant benefits to us such as convenience and safety. However, their limited acceptance and misuse are two major drawbacks.
Term plastic money Definition: A slang phrase for credit cards, especially when such cards used to make purchases. The “plastic” portion of this term refers to the plastic construction of credit cards, as opposed to paper and metal of currency. The “money” portion is an erroneous reference to credit cards as a form of money, which they are not. Although credit cards do facilitate.
Plastic Money Introduction Plastic Money is designed for cashless payments and getting cash from one's bank account with ATMs all over the world. It is the most convenient way to carry money. It is safer to carry than to carry the paper notes. ATM around the world accept plastic card and dispense required amount of money. Plastic card can also be used for payment for most good and services.
Advantages of Plastic Money. There are several advantages of plastic money as seen in the above illustration. The advantages include. Eliminates the need for carrying huge cash: This eliminates the need for carrying huge load of cash which is risky and inconvenient too. Risk of Loss or Theft minimized: In case of cash there is a high risk of losing cash and a chance of cash getting stolen.
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The major chemicals that go into the making of plastic are highly toxic and pose serious threat to living beings of all species on earth .So, there are many aspects that affect the plastic: the environmental and include human, plants and animals and in economic terms. All of this cost a lot of money because finding alternatives require a lot of researches and studies which is expensive either.
Polymer banknotes are banknotes made from a synthetic polymer such as biaxially oriented polypropylene (BOPP).Such notes incorporate many security features not available in paper banknotes, including the use of metameric inks. Polymer banknotes last significantly longer than paper notes, causing a decrease in environmental impact and a reduced cost of production and replacement.
Plastic Money Introduction Plastic Money is designed for cashless payments and getting cash from one's bank account with ATMs all over the world. It is the most convenient. 5214 Words; 21 Pages; Money The Medium Of Exchange MONEY-MEDIUM OF EXCHANGE In past, decade’s people use to exchange goods with each other. If one need any product than he has to give or pay the thing again that product.
SUMMARY AND CONCLUSION This chapter summarizes the major findings of the thesis and discusses policy recommendations for the adoption of plastic money in India. It also highlights some limitations of the research methodology and the possibility of generalizing the findings. It concludes with some suggestions for further avenues of research. 8.1 Summary One of the key pillars of modern society.
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Plastic money or polymer money, made out of plastic, is a new and easier way of paying for goods and services. Plastic money was introduced in the 1950s and is now an essential form of ready money which reduces the risk of handling a huge amount of cash. It includes debit cards, ATMs, smart cards, etc. Nowadays even developing countries like India are encouraging the use of this plastic money.
Expert Ogtay Hagverdiyev assures that the government should think about switching to plastic money. The print of such banknotes requires a little bit more money than printing of the paper, but they will serve much longer, he explained. First time, when Azerbaijan released new banknotes it spent about 4 million euros, Hagverdiyev reminded. “Today, the print requires 1.5-2 million euros, as a.
