We are exchanging the details relating to our card over the internet which is not always a safe place. Money- One of the most important factor for living life. Safety Yes, this was an argument for cash, but credit cards have their own benefits when it comes to protecting your money. Especially when doing online shopping.
And unlike paper currency, plastic money doesn't shed tiny bits of ink and dust that can disable ATMs by confusing their optical readers.
Some websites are just set up to steal our financial information and loot money thereby. Plastic Money – Pros and Cons Technology has changed the way we deal with money giving us more convenience and easy access to funds from anywhere. It all started with a simple credit card that allowed you to make purchases today and pay later.Further, technological advancements lead to a new trend where most banks gave you one ATM card or debit card which can be used for withdrawing money … Image source: pixabay.com Introduction to Plastic Money.
Plastic money also stays cleaner and becomes less grubby than paper money, because the non-porous surface doesn't absorb perspiration, body oils, or liquids. If you buy your gas with cash, you won’t get any money back; but if you use a gas rewards card, you could get 1 to 5 percent cash back, for example. 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.
How did all start, in history you might have learnt batter system where goods were traded for goods, then came an era where gold and silver coins came into being, then we modernized we stared using paper notes and coins for trading of goods and services. Plastic Money is also not 100% safe: There is a certain amount of risk involved in transactions which involves plastic money as well. They can come in many different forms such as cash cards, credit cards, debit cards, pre-paid cash cards and store cards.
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