Research Methodology

COMPARITIVE ANALYSIS ON CONSUMER PREFERENCE BETWEEN PLASTIC MONEY AND CASH

By XXXXX MBA Session (2013-15)

RESEARCH PROJECT

Submitted to: XXXXXX

TITLE

Title of project: PREFERENCE . AND CASH

COMPARITIVE ANALYSIS ON CONSUMER’S BETWEEN PLASTIC MONEY

Name of the Student:

XXXXX

Roll no:

XXXXX

Name of the Institution:

Name of Advisor:

INTRODUCTION PLASTIC MONEY 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.

Cash Cards - A card that will allow you to withdraw money directly from your bank via an

Authorized Teller Machine (ATM) but it will not allow the holder to purchase anything directly with

it.

Credit Cards - Again this card will permit the card holder to withdraw cash from an ATM, and a credit card will allow the user to purchase goods and services directly, but unlike a Cash Card the money is basically a high interest loan to the card holder, although the card holder can avoid any

interest

charges

by

paying

the

balance

off

in

full

each

month.

Debit Cards - This type of card will directly debit money from your bank account, and can directly be used to purchase goods and services. 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.

Pre-paid Cash Cards - As the name suggests the user will add credit to the card themselves, and will not exceed that amount. These are usually re-useable in that they can be 'topped up' however some cards, usually marketed as Gift Cards are not re-useable and once the credit has been spent they

are

disposed

of.

Store Cards - These are similar in concept to the Credit Card model, in that the idea is to purchase something in store and be billed for it at the end of the month. 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.

CASH Cash refers to money in the physical form of currency, such as banknotes and coins.

ADVANTAGE AND DISADVANTAGE OF PLASTIC MONEY TO CONSUMER

Advantages of Plastic money: 

Easy to handle- it prevents to carry out heavy wallets, hence, reducing the chances of theft.



Easy access to money- in the situation of instantaneous want for money, one can withdraw / debit the demanded cash amount from the account and thus prevents any risk of getting marooned in travelling.



Easy availability- Now a day’s every bank facilitates with Credit cards as long as the account become active. The cash ATM machines are also open 24/ 7, therefore whenever in need one does not have to wait for the banks to open, but can take out the money using the card.



Miles of Cards- Most credit cards companies offer miles on every purchase. This indicates that by using the card for purchasing, there are points added which get aggregated in the user’s account. Lastly, when a good amount of these points get collected, the consumer can use them for purchasing any product for free, hence making a double use of money is another advantage of plastic money.

Disadvantages of Plastic money: 

Just a plastic- Besides all the advantages, Credit card is just a plastic which can get either lost or stolen. This may results in crimes in which extensive purchases can be made under the name of the account holder. These cases might get resolved in the benefit of the applicant, but there is still an identity theft which is a very serious issue.



Shops using other vendors- There are numerous shops which accept credit cards of a specific company only. In this situation the cash is the only way of payment for those who use a credit card of another company.



Less Global availability- There are many cases where various companies do not permit their cards to be used in areas where they have a regional dispute with.



Worn out Magnetic strip- The magnetic strip of a credit card can get worn out due to massive use. If such a condition happens while travelling, and this is the only way of cash that the consumer has, then he or she has to wait till the time they receive a new card, which can take a minimum of 48 hrs.

HISTORY BEHIND CREDIT/DEBIT CARD CREDIT CARD Credit is a method of selling goods or services without the buyer having cash in hand. A credit card is only an automatic way of offering credit to a consumer. Today, every credit card carries an identifying number that speeds shopping transactions. Imagine what a credit purchase would be like without it, the sales person would have to record your identity, billing address, and terms of repayment. According to Encyclopedia Britannica, "the use of credit cards originated in the United States during the 1920s, when individual firms, such as oil companies and hotel chains, began issuing

them to customers." However, references to credit cards have been made as far back as 1890 in Europe. Early credit cards involved sales directly between the merchant offering the credit and credit card, and that merchant's customer. Around 1938, companies started to accept each other's cards. Today, credit cards allow you to make purchases with countless third parties. The Shape of Credit Cards Credit cards were not always been made of plastic. There have been credit tokens made from metal coins, metal plates, and celluloid, metal, fiber, paper, and now mostly plastic cards.

Diners club Cards

In 1950, the Diners Club issued their credit card in the United States. The Diners Club credit card was invented by Diners' Club founder Frank McNamara and it was intended to pay restaurant bills. A customer could eat without cash at any restaurant that would accept Diners' Club credit cards. Diners' Club would pay the restaurant and the credit card holder would repay Diners' Club. The Diners Club card was at first technically a charge card rather than a credit card since the customer had to repay the entire amount when billed by Diners Club.

First Bank Credit Card The inventor of the first bank issued credit card was John Biggins of the Flatbush National Bank of Brooklyn in New York. In 1946, Biggins invented the "Charge-It" program between bank customers and local merchants. Merchants could deposit sales slips into the bank and the bank billed the customer who used the card.

The Popularity of Credit Cards

Credit cards were first promoted to traveling salesmen (more common in that era) for use on the road. By the early 1960s, more companies offered credit cards, advertising them as a time-saving device rather than a form of credit. American Express and MasterCard became huge successes overnight.

SIX FACTORS WHICH ARE CONSIDERED FOR APPLYING FOR CREDIT CARD 1. Interest rate charged on credit cards 2. Annual Fees & Other charges 3. Rewards and Offers on Credit Card 4. Customer Service and Transparency 5. Convenience to pay the bills 6. How easy was it to apply for credit card

DEBIT CARD

History of debit card dates back around 20 years ago, which highlighted the introduction of ecommerce and alternative means of payment.

The recent history of debit card indicates the rise in the usage of debit cards. History of debit card reflects the dominance of the debit card as a means of making payments, becoming increasingly popular. This alternative means of payment is gradually gaining ground with each passing year.

History of debit card shows that back in 1990, the count of debit cards in circulation was around 19 million.

The use of debit card boomed to 28.8 million in 2006 and is expected to reach34.4 million in 2016.



History of debit card has shown that food and drink has dominated the scenario of the majority of the transactions involving a debit card.



It indicates that the last 20 years have witnessed a radical change in the payment options and the plastic card has replaced cash.

DEBIT CREDIT CARD USEAGE IN INDIA:

Reserve Bank of India (RBI) stats show that credit card and debit card usage, both in terms of volume and value, has been steadily increasing over the past 4-5 years. In the 2011 FY there were 265.1 million credit card transactions, which accounted for INR 755 billion, and 237.1 million debit card transactions, which were valued at INR 357 billion. Also, there are more than 260 million debit and credit cards in circulation in India presently. Electronic payments have been growing at 60% in India over the last three years. Add to that the fact that India has been one of the fastest growing countries for payment cards or prepaid cash cards in the Asia-Pacific region.

NO. OF DEBIT & CREDIT CARDS IN CIRCULATION

THE RESULTS OF THE SURVEY WHICH CONDUCTED ON CREDIT CARDS

As per survey conducted by www.jagoinvestor.com on the top 6 credit cards various factors along with their weight age is determined in this table. This table tells about how from various factors it is determined which Bank’s credit card is favorable or not.

QUESTIONNAIRE Respected Sir/Madam, I XXXXX, student of MBA of XXX Institution, assure you that the details which are to be submitted below will be used only for the Academic Purpose as well as for Research Work and will be kept confidential. Thank You. Q1. Do you have a debit/credit card: a) Yes b) No [Fill the questionnaire only if answer to Q1 is yes] Q2. Which bank’s card/debit card you use: a) b) c) d)

Axis bank HDFC bank State bank ICICI bank

e) other, please specify_______________

Q3. Do you buy or register online: a) Yes b) No Answer Q4. only if said yes in above question: Q4. For purchasing online, how do you make payment: a) b) c) d)

Cash on delivery Online banking Credit/debit card Paypal

Q.No. YOUR PREFERENCE IN FOLLOWING CASES 5

For buying expensive electronic consumer goods from shop do you make payment by

6

Out on holiday do you prefer taking

7

For filling the petrol you generally use

8

Out on lunch at a restaurant do you make payment by

CASH

CREDIT/DEBIT CARD

Q9. While registering for exam, what do you prefer: (only for students) a) Pay through online banking b) Credit/debit card

c) By depositing in bank

Q10. How frequently you withdraw cash from ATM card: a) Once a week b) Twice a week

c) Once a fortnight d) Once a month

Q11. How long have you been using credit card/debit card: a) Less than 6 months b) 1-2 years

c) 2-4 years d) More than 4 years

Q12. How often do you use credit/debit card in a month: a) Once b) 1-4 times

c) More than 4 times

Q13. How frequently you pay back on the outstanding credit card balance: a) 15 days b) Once a month c) Once a quarter Q. No

14

15

16

17

HIGHLY SATISFIED NEUTRAL YOUR SATISFIED SATISFACTION LEVEL FOR FOLLOWING QUESTION Are you satisfied with expenses/ charges charged on your credit card Are you satisfied with gifts offered on credit card points Are you satisfied with long term durability of the credit/debit cards Are you satisfied with the credit limit offered to you

DISSATISFIED

HIGHLY DISSATISFI ED

PERSONAL INFORMATION Name Contact number Gender of card user: a) Male b) Female Age group of card user: a) 20-35 b) 35-60

DATA ANALYSIS AND INTERPRETATION Analysis & Interpretation of credit card users under Age Group of 20-35 & 35-60

Table 1: Analysis of number of Female respondents under both the age groups. (In Numbers): Gender Age Group: 20-35

Age Group: 35-60

Male

Male

Female

45

Gender of Credit Card users (Age group: 2035)

55

80

Female 20

Gender of Credit Card users (Age group: 35-60)

Female 20% Male 45% Female 55% Male 80%

Fig 1: Percentage comparison of Female respondents Analysis and Interpretation: According to above Statistics there are more female card users under the age group 20-35 as compared to the card user under age group of 35-60, where number of female card users is less by %. But out of 200 respondents only 37.5% are female card users.

Table 2: Analysis of which Bank’s Credit/Debit card preferred under both the age groups: (In Numbers): BANKS

Axis bank

HDFC bank

State bank

ICICI bank

Other

Age: 20-35

33

24

30

16

6

Age: 35-60

16

14

60

10

3

Which bank’s card/debit card used Age: 20-35

Age: 35-60

60

33

30 24 16

16

14

10 6

Axis bank

HDFC bank

State bank

ICICI bank

3

Other

Fig 2: Graph presenting number of respondent’s preference of Bank’s Credit/Debit card under both the age groups Analysis and Interpretation: According to the above statistics 33% & 30% respondents under age group 20-35 prefers axis bank and state bank credit/debit card respectively as compared to other banks, 7 respondents of which have credit/debit card of 2-3 banks. And 60% respondents under age group 35-60 prefers state bank credit/debit card, 2 of these respondents have credit/debit card of 2-3 banks. Other Banks include PNB, Bank of Baroda, J&K Bank, Indian overseas Bank, Union Bank.

Table 3: Analysis of preference of respondents for online buying or registrations (In Numbers): Do you buy or register online Age Group: 20-35

Age Group: 35-60

Yes

No

Yes

No

75

25

75

25

Do you buy or register online (Age Group: 3560)

No 25%

Do you buy or register online (Age Group: 20-35)

No 25%

Yes 75%

Yes 75%

Fig 3: Percentage of respondents preferring online buying and registration under both age groups.

Analysis and Interpretation: According to the above statistics under both the age groups 1/4th of the respondents do not prefer buying or registering online.

Table 4: Analysis of payment method adopted by the respondents of both age groups (In Numbers): For purchasing online, how do you make payment Sources

Cash on Delivery

Online Banking

Credit/Debit card

Paypal

N/A

Age: 20-35

29

21

34

3

21

Age: 35-60

18

25

32

3

25

For purchasing online, how is payment made Age: 20-35 34 29

Age: 35-60

32

25

25

21

18

21

3 Cash on Delivery

Online Banking

Credit/Debit card

3

Paypal

N/A

Fig 4: Graphical presentation of payment modes adopted by the respondents of both the age group. Analysis and Interpretation: According to the statistics the respondents who prefer buying or registering online under age group 20-35 prefer credit/debit card (34%) followed by cash on delivery (29%), 8 of them prefer more than one mode to make the payment for buying online . And the respondents under age group 35-60 prefer credit/debit card (32%) followed by online banking (25%), 3 of them prefer more than one mode to make the payment. Least preferred mode opted is PayPal (3%) by both the age group respondents.

Table 5: Analysis of preference of payment mode for buying expensive goods by respondents of both age groups: (In Numbers): Buying expensive electronic consumer goods from shop Age: 20-35 Age: 35-60

Cash

Credit/Debit Card

73 69

28 31

Preference for buying expensive electronic consumer goods from shop Age: 20-35 73

Age: 35-60

69

28

31

CASH CREDIT/DEBIT CARD

Fig 5: Graphical representation of respondent’s preference for payment for buying expensive goods Analysis and Interpretation: According to the statistics respondents under age group 20-35 & 35-60 prefer making payment via cash 73% & 69% respectively for buying expensive consumer goods. But on comparing the data of both the age groups, the respondents of age group 35-60 prefer card more than the respondents of age group 20-35 by 10.73%.

Table 6: Analysis of preference of taking Cash or Card for holiday by respondents of both age groups: (In Numbers): Out On Holiday

Age: 20-35 Age: 35-60

Cash

Credit/Debit Card

34 57

69 43

Preference when out on holiday Age: 20-35

Age: 35-60

69 57 43 34

CASH

CREDIT/DEBIT CARD

Fig 6: Graphical representation of respondent’s preference for taking Cash or Card out on holiday Analysis and Interpretation: According to the statistics the respondents under age group 20-35 prefer carrying card (69%) rather than cash as compared to respondents under age group 35-60 (43%) and 3 of them prefer taking both. The respondents under age group 20-35 prefer taking card more than 35-60 age group respondents by 60.46%.

Table 7: Analysis of preference of payment mode at petrol station on basis by respondents of both age groups: (In Numbers): Filling The Petrol Cash

Credit/Debit Card

Age: 20-35

78

25

Age: 35-60

66

34

Preference for filling the petrol Age: 20-35

Age: 35-60

78 66

34 25

CASH CREDIT/DEBIT CARD

Fig 7: Graphical representation of respondent’s preference for payment at petrol station of both age groups Analysis and Interpretation: According to the statistics the respondents of both the age groups prefer making payment via cash at petrol station. But on comparing the data of both the age groups, the respondents of age group 35-60 prefer card more than the respondents of age group 20-35 by 36%.

Table 8: Analysis of preference of payment mode at restaurants by respondents of both age groups (In Numbers): Out On Lunch At A Restaurant Cash

Credit/Debit Card

Age: 20-35

62

44

Age: 35-60

84

16

Preference when out on lunch at a restaurant Age: 20-35

Age: 35-60

84

62 44

16

CASH

CREDIT/DEBIT CARD

Fig 8: Graphical representation of preference of payment mode at restaurants by respondents of both age groups Analysis and Interpretation: According to the statistics the respondents of both the age groups prefer making payment via cash at restaurants. But on comparing the data of both the age groups, the respondents of age group 20-35 prefer card more than the respondents of age group 35-60 by 175%.

Table 9: Analysis of preference of payment mode for exam registration by respondents of both age groups (In Numbers): While registering for exam pay through Online banking

Card

Deposit in bank

N/A

Age: 20-35

15

35

45

5

Age: 35-60

4

20

8

68

Preference while registering for exam pay through Age: 20-35

Age: 35-60 68

45 35

20 15 8 4

Online banking

card

Deposit in bank

5

N/A

Fig 9: Graphical representation of respondent’s preference for payment while registering for exam of both age groups Analysis and Interpretation: Question was for students but was also filled by the respondents who registered for their family members along with some student’s respondents. The respondents under age group 20-35 preferred making payment by depositing in bank where as respondents under age group 35-60 preferred via Card, and which exceeded the other group usage by 75%.

Table 10: Analysis of frequency of cash withdrawn from ATM by respondents of both age groups: (In Numbers): How frequently cash withdrawn from ATM Once a week

Twice a week

Once a fortnight

Once a month

Age: 20-35

20

33

16

31

Age: 35-60

27

41

18

14

How frequently cash withdrawn from ATM Age: 35-60

Age: 20-35

14 Once a month

31

18 Once a fortnight

16

41 Twice a week

33

27 Once a week

20

Fig 10: Graphical presentation of frequency of cash withdrawn from ATM via debit card by respondents of both age groups: Analysis and Interpretation: According to the statics maximum respondents under both the age groups prefer withdrawing cash twice a week. The respondents under age group 35-60 withdraw 30.18% more cash via debit card than respondents under age group 20-35 in one week.

Table 11: Analysis of period of Debit/Credit card usage by respondents of both the age groups: (In Numbers): Period of Debit/Credit card usage < 6 months

1-2 years

2-4 years

>4years

Age: 20-35

14

38

26

22

Age: 35-60

16

30

32

22

Period of Debit/Credit card usage Age: 20-35

Age: 35-60

38 32

30

26

16

22 22

14

Age: 35-60 < 6 months

Age: 20-35

1-2 years 2-4 years >4years

Fig 11: Graphical presentation of period of Debit/Credit card usage by respondents of both the age groups Analysis and Interpretation: According to the statics only 22% of respondents in both the age groups are using credit/debit card for more than 2 years. 38% of respondents under age group 20-35 are using card for past 12 years where as 32% of respondents under age group 35-60 are using card for past 2-4 years which being the maximum percentage of respondents in their respective age groups.

Table 12: Analysis of frequency of card used within one month by the respondents of both the age groups: (In Numbers): How often card used in a month Once

1-4 times

>4 times

Age: 20-35

35

46

19

Age: 35-60

28

39

33

How often card used in a month Age: 35-60

Age: 20-35

33 >4 times

19

39 1-4 times

46

28 Once

35

Fig 12: Graphical presentation of frequency of card used within one month by the respondents of both the age groups Analysis and Interpretation: According to the statics the respondents under age group 20-35 use card 1-4 times in a month and the respondents under the age group 35-60 use card more than 4 times in a month which is 73.68% more than the respondents under age group 20-35.

Table 13: Analysis of Frequency of payment on the outstanding credit card balance by the respondents of both the age groups: (In Numbers): Frequency of payment on the outstanding credit card balance 15days

Once a month Once a quarter

N/A

Age: 20-35

26

51

15

8

Age: 35-60

18

39

38

5

Frequency of payment on the outstanding credit card balance Age: 20-35

51

26

Age: 35-60

39

38

18

15

5 8

15days

Age: 35-60 Age: 20-35

Once a month Once a quarter

N/A

Fig 13: Graphical presentation of Frequency of payment on the outstanding credit card balance by the respondents of both the age groups: Analysis and Interpretation: According to the statics 8% & 5% of the respondents under the age group 20-35 & 35-60 respectively do not use credit card. Most of the respondents under both the age group makes payment on their outstanding credit card balance once a month, 35-60 age group respondents making payment once in month are more than 20-35 age group respondents by 30.76%

Table 14: Analysis of satisfaction level of the respondents under both the age group with expenses/ charges charged on credit card (In Numbers): Are you satisfied with expenses/ charges charged on your credit card Highly Satisfied

Satisfied

Neutral Dissatisfied Highly Dissatisfied

Age: 20-35

15

41

36

0

0

Age: 35-60

7

32

45

8

3

Satisfaction level with expenses/ charges charged on credit card Age: 20-35

Age: 35-60 45

41 36 32

15 8

7 0 Highly Satisfied

Satisfied

Neutral

Dissatisfied

0

3

Highly Dissatisfied

Fig 14: Graphical presentation of satisfaction level of the respondents under both the age group with expenses/ charges charged on credit card Analysis and Interpretation: According to the statics 45% respondents under age group 35-60 showed neutral response toward credit card expenses charged on their credit card. Whereas 41% respondents under age group 20-35 are satisfied by such expenses on credit card.

Table 15: Analysis of satisfaction level of the respondents under both the age group with gifts offered on credit card points (In Numbers): Are you satisfied with gifts offered on credit card points Highly Satisfied Satisfied Neutral

Dissatisfied Highly Dissatisfied

Age: 20-35

16

38

30

7

1

Age: 35-60

4

31

44

12

4

Satisfaction level with gifts offered on credit card points Age: 20-35

Age: 35-60 44

38 31

30

16 12 7

4

Highly Satisfied

1 Satisfied

Neutral

Dissatisfied

4

Highly Dissatisfied

Fig 15: Graphical presentation of satisfaction level of the respondents under both the age group Analysis and Interpretation: According to the statics 44% respondents under age group 35-60 showed neutral response toward credit card expenses charged on their credit card where as 38% respondents under age group 20-35 are satisfied by such expenses on credit card.

Table 16: Analysis of satisfaction level of the respondents under both the age group (In Numbers): Are you satisfied with long term durability of the credit/debit cards Highly Satisfied Satisfied Neutral Dissatisfied Highly Dissatisfied Age: 20-35

25

50

25

0

0

Age: 35-60

19

37

28

12

4

Satisfaction level with long term durability of the credit/debit cards Age: 20-35

Age: 35-60

50 37 25

25

28

19 12 4 0 Highly Satisfied

Satisfied

Neutral

Dissatisfied

0 Highly Dissatisfied

Fig 16: Graphical presentation of satisfaction level of the respondents under both the age group Analysis and Interpretation: According to the statics 37% respondents under age group 35-60 are satisfied with credit card expenses charged on their credit card where as 50% respondents under age group 20-35 are satisfied by such expenses on credit card.

Table 17: Analysis of satisfaction level of the respondents under both the age group (In Numbers): Are you satisfied with the credit limit offered to you Highly Satisfied

Satisfied

Neutral Dissatisfied Highly Dissatisfied

Age: 20-35

16

43

29

4

0

Age: 35-60

23

34

25

10

3

Satisfaction level with the credit limit offered Age: 20-35

Age: 35-60

43 34 29 25

23 16

10 4 0 Highly Satisfied

Satisfied

Neutral

Dissatisfied

3

Highly Dissatisfied

Fig 17: Graphical presentation of satisfaction level of the respondents under both the age group Analysis and Interpretation: According to the statics 34% respondents under age group 35-60 are satisfied with credit card expenses charged on their credit card where as 43% respondents under age group 20-35 are satisfied by such expenses on credit card.

RESULTS AND FINDINGS 

Out of 200 respondents only 37.5% are female card users.



State bank credit/debit card preferred by both age group respondents.



1/4th of the respondents do not prefer buying or registering online.



Both prefer credit/debit card to make the payment for buying online.



Respondents under age group 20-35 & 35-60 prefer making payment via cash for buying expensive goods.



The respondents under age group 20-35 prefer taking card more than 35-60 age group respondents by 60.46% out on holiday.



The

respondents

of

age group

35-60

prefer

card

more

than

the

respondents of age group 20-35 by 36% for payment at petrol station. 

The respondents of age group 20-35 prefer card more than the respondents of age group 35-60 by 175% at restaurants.



Respondents under age group 35-60 preferred via card, and which exceeded the other group usage by 75% for payment while registering for exam.



The respondents under age group 35-60 withdraw 30.18% more cash via debit card than respondents under age group 20-35 in one week.



Debit/credit card used by respondents of both the age groups for period of over 2 year.



35-60 use card more than 4 times in a month which is 73.68% more than the respondents under age group 20-35.



35-60 age group respondents making payment once in month are more than 2035 age group respondents by 30.76%.



Maximum respondents under both age groups are satisfied with long term durability of the credit/debit cards.



Maximum respondents under both age groups are satisfied with the credit limit offered.



Maximum respondents under 20-35 age groups are satisfied with gifts offered on credit card points, where as maximum respondents under 35-60 age groups were neutral.



Maximum respondents under 20-35 age groups are satisfied with expenses/ charges charged on credit card, where as maximum respondents under 35-60 age groups were neutral.

SUGGESTIONS 

As only 37.5% of 200 respondents are female card users, so to increase its customer base among female card users they should bring out different schemes. As most of the shopping is done by females.



As 1/4th of the respondents do not prefer buying or registering online, various offers & discounts should be offered online on various goods & service online as E-commerce is on rise in present scenario.



As respondents under age group 20-35 & 35-60 prefer making payment via cash for buying expensive goods, these goods can be given through installments via credit/debit card.



The credit limit offered on the credit card must be increased on timely basis depending on customer spending so as to keep them satisfied.



People must be made aware about the credit points and gifts offered on them, which make them use more and more of credit cards to avail these points.



Awareness about security linked with credit card must also be made to the customers so that they have more confidence in credit card usage.