Standard Segregation of Credit Card

7/28/2019 Standard Segregation of Credit Card

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Standard Segregation of credit card

Standard Cardit is the most basic card ( sans all frills) offered by issuers.Classic CardBrand name for the standard card issued by VISA

Gold Card/ Executive CardA credit card that offers a higher line of credit than a standard card,

income eligibility is also higher. In additions, issuers provide extra perks or incentives tocardholders.

Platinum cardA credit card with a higher limit and additional perks than a gold card.

Titanium CardA card with an even higher limit than a platinum card.

PROGRESS OF CREDIT CARD BUSINESS

The number of members using credit card and the number of establishment ownering it afterjoining the scheme have increased vastly over the past few years. Many Indian banks have joined

hand with international banks to provide this card facility on a worldwide based or a selected

international centers. The number of credit card holders which was 8 lakh (1997), have increased

to 25 lakh now. The credit card network is also fast spreading in smaller cities and towns besidesby cities and metros.

ELIGIBILITY

A bank who is in the business of credit card grant subject to some rules and guidelines to its

eligible customer before a credit card is given to a customer the banker analysis following factors

and accordingly fixes a credit limit if found eligible.

The customer should have a saving or current account with the bank.His/Her monthly or annual are regularly received and credit to this bank account.

His/Her assets and liabilities are known and reported to the bank.

He is considered credit worthy up to a limit depending on his income, assets and expenditure and

past dealing with the bank.

The eligible member is then asked to fill in an application from where in details of account

number, name and address, income, wealth, status and evidence statement of income etc. aregiven. This application form is processed and credit limit is established. This credit limit differs

from individual to individual and Bank to bank. The maximum limit depends upon the users

income. Some banks have fixed of Rs. 1 lakh, 2 lakh or 5 lakh.

ARRANGEMENTS WITH BANKER


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Credit card is the key to opening of the bank accounts. The credit card charges and other

payments utilized through credit cards are debited to his account. The banker issues a monthly

statement and sent to cardholder. This statement contains details of the charges.

The following are some of the plus features of credit card in India.

Hotel discounts

Travel fare discounts

Free global calling cardLost baggage insurance

Accident insurance

Insurance on goods purchased

Waiver of payment in case of accidental deathHousehold insurance

Benefits of having a Credit card

A credit card makes it easy to buy something now and pay for it later. Its much safer to use a

credit card than to carry around cash. If you lose your credit car, you can ask your credit cardcompany to cancel your card, and no one else can use it. But if you lease cash your money is

gone.

Credit cards are also convenient. Your can use them to make hotel, are rental and other

reservations. You can buy items over the phone or online. You can also use credit cards foremergencies, like unexpected care repairs, when you dont have the cash to cover the expenses.

A Credit card gives you a credit history, which helps to get home loans and other credit in a

future.

HOW CREDIT CARD BENEFITS THE BANK

Credit card increases the customer base of the bank.

Credit card increases credit portfolio of the bank.

Credit card enhances the reputation of the bank public.The business establishments, which accept these cards, also give some incentives or commission

to bank, by which the bank gains.

HOW CREDIT CARD BENEFITS THE CARD HOLDER


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Cardholder can avoid carrying cash and risk of its lose.

Cardholder enjoys a credit limit up to which he makes purchases per his need and pay at leisure.

Cardholder gets some period of 30 to 45 days the outstanding overdraft.Credit cards serve as a status symbol.

Money can be withdrawn at any time over the day and night. It provides free accidentals

insurance cover.It provides purchase protection loss of travel, documents, loss of delay in arrival of baggagescreeched baggage.

BENEFITS TO BUSINESS ESTABLISHMENT

Business increases to great extent of business houses that accept credit cards.Reputation of the business establishment increases.

Customer based increases.

What are the cost of having a credit card?

All credit cards have finance charges foror not paying your balance in fill each month, but you

could save a lot of money by shopping around for the credit card that offers you the best terms.Key credit card terms to took at are the annual percentage rate (APR), annual fee, grace period,

and late payment charge.

Shop for a card with a grace period that gives you enough time to pay your bills on time without

charging you interest. Credit card with no grace period start charging you fees as soon as youbuy something on your credit card.

Where can I get credit card ?

Your mail is probably full credit card offers from national companies. Most local banks and

Community Development Credit Unions (CDCUs) offer credit cards as well. The fees, chargesand benefits for credit cards very among different companies. When youre choosing a card,

shop around. CDCUs often offer the best rates and lowest fees, since they are not trying to make

a profit like credit card companies are.

Some large department stroes also offer credit cards that only can be used in their stores.

Usually, when you apply for a store credit card, you get a one-time discount on your purchase

that day. But these credit cards have limited uses and often carry high finance charges.

How do I get a credit card

If you are least 18 years old, have a regular source of income and good credit rating; you can

probably qualify for a credit card. Before you submit a credit card application, order a copy of

your credit report to make sure all of the information on it is correct. After you check your credit


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report, and fix any wrong information, you can start carefully researching credit card rates, fees

and benefits. At the same time, make a list of the features you want in a credit card. Call any

credit any credit companies youre interested in for question and otheravailable plans.


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REVIEW OF LITERATURE

Investigates the attitudes of Turkish consumers towards credit cards, and the

approach of card issuers, by surveying two samples of 200 card-holders and non-holders: the


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Ausubel (1991) suggests that consumers may not even consider the interest rate when

making purchases because they do not intend to borrow for an extended period when they

make purchases. However, they may change their minds when the bill arrives.

Stavins (1996)

argues that consumers are somewhat sensitive not only to changes in the interest rate but also

to the value of other credit-card enhancements such as frequent-use awards, expedited dispute

resolution, extended warranties, and automobile rental insurance. However, she agrees with

Ausubel (1991), Calem and Mester (1995) that lowering interest rates may attract less

creditworthy consumers, therefore dissuading some credit-card issuers from lowering their

interest rates.

It is very essential to know whether the study has already been conducted before .If so, how to

what extent? And because of this, scholar has to go through all the existing literature relation tothe study. Credit card are a new concept introduced in India by Nationalized Banks only a few

year back, very limited studies have been conducted on the subject. Due to time restriction

Scholar could seek advice from only the limited literature, Which is available in the library as

well as on the Internet.It is the real world we have 3 ways to pay for goods: cash check

And credit cards or debit cards. Cards can be smart card, debit card, ATM cards and any kind of

credit cards. They all serve a special Purpose. They allow us to pay without cash. They are alsoall Online electronic payment media.

REAL WORLD CASH

We have now so many mediums of exchange to simplify transaction, a standard of value to

make it easier to decide on the Worth of goods, and a store of value to facilitate the concept ofsaving. For the purpose of E-commerce, electronic money must fulfill the first function. When

you carry cash, you are making on the spot payment but online payment is not very different

from cash transactions in the real world, except for speed of transfer, ease of handling and thesafety of not having to carry cash. Outside of the Internet, cash continues to be most widely used

of the payment.

Its unique features are:

Convenience: - easy to use and easy to carry.Wide acceptance: - the U.S.Dollar happens to be most widely accepted paper currency in the

world because of its stability and durability.

Anonymity: - No identification is needed to pay in cash.No audit trial: - Lack of trace ability means you can do what you want with your cash. In

countries where trust in currency, banking system, or the govt. is in question, cash is still used to

buy all kind of product including homes, automobiles and other big ticket item.


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CREDIT CARD BASED ELECTRONIC PAYMENT

SYSTEM

To avoid the complexity association with digital cash and electronic cheques, consumers andvendors are also looking at credit card payment on the Internet as one possible time-tasted

alternative. There is nothing new in the basic process. If consumer wants to purchase or services,they simply send their credit card detail to their service provider involved and the credit card

organization will handle this payment like any other.

We can break credit card payment on online network into 3 basic categories:

Payment using plain credit card detail: - The easiest method of payment is theexchange of unencrypted credit cards over a public network such as telephone lines or theInternet. The low level of security inherent in the design of the Internet makes this method

problematic (any snooper can read credit card number, and programs can be created to scan the

internet traffic for credit cards number and send the number to its master). Authentication is alsoa significant problem. And the vendor is usually responsible to ensure that the person using thecredit card is its owner. Without encryption there is no way to do this.

Payment using encrypted credit card details: -It would make sense to encrypted yourcredit card details before sending them out, but even then are certain factors to considered. One

would be the cost of credit card transaction itself. Such cost would prohibit low value payment

by adding costs to the transaction.

Payments using 3rd

party verification:- One solution to security and verification

problem is the introduction of the 3

rd

party. A company that collects and approves payment fromone client to another. After a certain period of time, one credit card transaction for the total

accumulated amount is completed. Some of the companies that are attempting to provide theinfrastructure on-line credit card processing.

MASTER BANKING

A house banking service started by MASTER CARD and check free corp., as online paymentprocessor.

VISA INTERACTIVE

VISA International acquired US order, a screen phone manufacture. VISA Interactive has signed

up more than 30 banks including national banks.


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Standard Cardit is the most basic card ( sans all frills) offered by issuers.

Classic CardBrand name for the standard card issued by VISA


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Hotel discounts



Accident insurance

Insurance on goods purchasedWaiver of payment in case of accidental deathHousehold insurance




gone.




future.








Cardholder enjoys a credit limit up to which he makes purchases per his need and pay at leisure.Cardholder gets some period of 30 to 45 days the outstanding overdraft.

Credit cards serve as a status symbol.

Money can be withdrawn at any time over the day and night. It provides free accidentalsinsurance cover.


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It provides purchase protection loss of travel, documents, loss of delay in arrival of baggage

screeched baggage.


Business increases to great extent of business houses that accept credit cards.

Reputation of the business establishment increases.






Shop for a card with a grace period that gives you enough time to pay your bills on time withoutcharging you interest. Credit card with no grace period start charging you fees as soon as you

buy something on your credit card.


Your mail is probably full credit card offers from national companies. Most local banks andCommunity Development Credit Unions (CDCUs) offer credit cards as well. The fees, charges

and benefits for credit cards very among different companies. When youre choosing a card,




Usually, when you apply for a store credit card, you get a one-time discount on your purchasethat day. But these credit cards have limited uses and often carry high finance charges.



probably qualify for a credit card. Before you submit a credit card application, order a copy ofyour credit report to make sure all of the information on it is correct. After you check your creditreport, and fix any wrong information, you can start carefully researching credit card rates, fees


credit any credit companies youre interested in for question and other available plans.


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better educated, middle-aged members of the upper-middle class seem to be the prime target;

the most important reasons for using a credit card were ease of payment followed by risk

of carrying cash; non-holders do not carry credit cards because they do not know much

about it; informal sources of information appear to be more influential than mass media


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advertising in penetrating the market; proposes that the usage and the administration of credit

cards are influenced very much by the infrastructure of the country and, hence, credit card

companies have to modify their marketing and administrative procedures rather than

following a standardized approach.

Credit cards, including store cards and bankcards, serve two distinct functions for consumers:

a means of payment and a source of credit (Ausubel 1991; Chakravorti 1997, 2000;

Chakravorti and Emmons 2001; Slocum and Matthews 1970; Stavins 2000). Based on the

main use of credit cards and the benefits sought, credit card users can be segmented into two

groups: convenience users and revolvers (Lee and Hogarth 1999).

Convenience users tend to employ credit cards as an easy mode of payment; typically pay

their balance in full upon receiving the statement. Revolvers, on the other hand, use the card

principally as a mode of financing and chose to pay interest charges on the unpaid balance.

According to the consumer behavior literature, consumer usage behavior and the benefits

sought from a product or a service are one of the best predictors to explain consumer

purchase behavior

(PeterandOlson1999).

Credit cards also serve as an open-ended, easily available credit source ( Lee and Kwon

2002). When consumers use credit cards as a mode of financing, credit cards compete with

bank loans and other forms of financing

(Brito and Hartley 1995).

Credit cards allow consumers to borrow within their credit limit without transaction costs,

which includes all the time and effort involved with obtaining a loan from a financial

institution. This convenience attracts many consumers to pay high interest on outstanding

credit card balances, rather than taking the time to apply for a loan with a lower interest rate.

As a result, credit cards account for a substantial and growing share of consumers' debt




Stavins (1996)


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interest rates.

It is very essential to know whether the study has already been conducted before .If so, how towhat extent? And because of this, scholar has to go through all the existing literature relation to

the study. Credit card are a new concept introduced in India by Nationalized Banks only a few


Scholar could seek advice from only the limited literature, Which is available in the library aswell as on the Internet.

It is the real world we have 3 ways to pay for goods: cash check

And credit cards or debit cards. Cards can be smart card, debit card, ATM cards and any kind ofcredit cards. They all serve a special Purpose. They allow us to pay without cash. They are also

all Online electronic payment media.

REAL WORLD CASH

We have now so many mediums of exchange to simplify transaction, a standard of value tomake it easier to decide on the Worth of goods, and a store of value to facilitate the concept of

saving. For the purpose of E-commerce, electronic money must fulfill the first function. When

you carry cash, you are making on the spot payment but online payment is not very differentfrom cash transactions in the real world, except for speed of transfer, ease of handling and the

safety of not having to carry cash. Outside of the Internet, cash continues to be most widely usedof the payment.


Convenience: - easy to use and easy to carry.

Wide acceptance: - the U.S.Dollar happens to be most widely accepted paper currency in theworld because of its stability and durability.

Anonymity: - No identification is needed to pay in cash.

No audit trial: - Lack of trace ability means you can do what you want with your cash. In




SYSTEM


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Standard Cardit is the most basic card ( sans all frills) offered by issuers.Classic CardBrand name for the standard card issued by VISA

Gold Card/ Executive CardA credit card that offers a higher line of credit than a standard card,

income eligibility is also higher. In additions, issuers provide extra perks or incentives tocardholders.Platinum cardA credit card with a higher limit and additional perks than a gold card.

Titanium CardA card with an even higher limit than a platinum card.



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The number of members using credit card and the number of establishment ownering it after

joining the scheme have increased vastly over the past few years. Many Indian banks have joined

hand with international banks to provide this card facility on a worldwide based or a selectedinternational centers. The number of credit card holders which was 8 lakh (1997), have increased

to 25 lakh now. The credit card network is also fast spreading in smaller cities and towns besides

by cities and metros.

ELIGIBILITY






He is considered credit worthy up to a limit depending on his income, assets and expenditure andpast dealing with the bank.

The eligible member is then asked to fill in an application from where in details of accountnumber, name and address, income, wealth, status and evidence statement of income etc. are

given. This application form is processed and credit limit is established. This credit limit differs








Hotel discountsTravel fare discounts

Free global calling card

Lost baggage insuranceAccident insurance




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and late payment charge.Shop for a card with a grace period that gives you enough time to pay your bills on time without

charging you interest. Credit card with no grace period start charging you fees as soon as you




Community Development Credit Unions (CDCUs) offer credit cards as well. The fees, charges

and benefits for credit cards very among different companies. When youre choosing a card,shop around. CDCUs often offer the best rates and lowest fees, since they are not trying to makea profit like credit card companies are.

Some large department stroes also offer credit cards that only can be used in their stores.Usually, when you apply for a store credit card, you get a one-time discount on your purchase



If you are least 18 years old, have a regular source of income and good credit rating; you canprobably qualify for a credit card. Before you submit a credit card application, order a copy of



and benefits. At the same time, make a list of the features you want in a credit card. Call anycredit any credit companies youre interested in for question and otheravailable plans.


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Gold Card/ Executive CardA credit card that offers a higher line of credit than a standard card,income eligibility is also higher. In additions, issuers provide extra perks or incentives to

cardholders.

Platinum cardA credit card with a higher limit and additional perks than a gold card.Titanium CardA card with an even higher limit than a platinum card.








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reservations. You can buy items over the phone or online. You can also use credit cards for

emergencies, like unexpected care repairs, when you dont have the cash to cover the expenses.A Credit card gives you a credit history, which helps to get home loans and other credit in a

future.


Credit card increases the customer base of the bank.Credit card increases credit portfolio of the bank.

Credit card enhances the reputation of the bank public.

The business establishments, which accept these cards, also give some incentives or commission







insurance cover.

It provides purchase protection loss of travel, documents, loss of delay in arrival of baggagescreeched baggage.



Reputation of the business establishment increases.Customer based increases.



could save a lot of money by shopping around for the credit card that offers you the best terms.


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Key credit card terms to took at are the annual percentage rate (APR), annual fee, grace period,


Shop for a card with a grace period that gives you enough time to pay your bills on time withoutcharging you interest. Credit card with no grace period start charging you fees as soon as you












probably qualify for a credit card. Before you submit a credit card application, order a copy of

your credit report to make sure all of the information on it is correct. After you check your creditreport, and fix any wrong information, you can start carefully researching credit card rates, fees




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purchase behavior














Stavins (1996)






interest rates.









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REAL WORLD CASH


make it easier to decide on the Worth of goods, and a store of value to facilitate the concept of

saving. For the purpose of E-commerce, electronic money must fulfill the first function. Whenyou carry cash, you are making on the spot payment but online payment is not very different

from cash transactions in the real world, except for speed of transfer, ease of handling and the









SYSTEM

To avoid the complexity association with digital cash and electronic cheques, consumers and

vendors are also looking at credit card payment on the Internet as one possible time-tastedalternative. There is nothing new in the basic process. If consumer wants to purchase or services,

they simply send their credit card detail to their service provider involved and the credit cardorganization will handle this payment like any other.


Payment using plain credit card detail: - The easiest method of payment is theexchange of unencrypted credit cards over a public network such as telephone lines or the

Internet. The low level of security inherent in the design of the Internet makes this methodproblematic (any snooper can read credit card number, and programs can be created to scan the

internet traffic for credit cards number and send the number to its master). Authentication is also

a significant problem. And the vendor is usually responsible to ensure that the person using thecredit card is its owner. Without encryption there is no way to do this.





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The eligible member is then asked to fill in an application from where in details of account

number, name and address, income, wealth, status and evidence statement of income etc. are


from individual to individual and Bank to bank. The maximum limit depends upon the usersincome. Some banks have fixed of Rs. 1 lakh, 2 lakh or 5 lakh.






Hotel discounts



Accident insurance

Insurance on goods purchasedWaiver of payment in case of accidental death

Household insurance


A credit card makes it easy to buy something now and pay for it later. Its much safer to use acredit card than to carry around cash. If you lose your credit car, you can ask your credit card

company to cancel your card, and no one else can use it. But if you lease cash your money is

gone.

Credit cards are also convenient. Your can use them to make hotel, are rental and otherreservations. You can buy items over the phone or online. You can also use credit cards for

emergencies, like unexpected care repairs, when you dont have the cash to cover the expenses.

A Credit card gives you a credit history, which helps to get home loans and other credit in afuture.



Credit card increases credit portfolio of the bank.Credit card enhances the reputation of the bank public.


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The business establishments, which accept these cards, also give some incentives or commission





Credit cards serve as a status symbol.Money can be withdrawn at any time over the day and night. It provides free accidentals

insurance cover.It provides purchase protection loss of travel, documents, loss of delay in arrival of baggage

screeched baggage.





All credit cards have finance charges foror not paying your balance in fill each month, but youcould save a lot of money by shopping around for the credit card that offers you the best terms.









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Stavins (1996)






interest rates.



year back, very limited studies have been conducted on the subject. Due to time restrictionScholar could seek advice from only the limited literature, Which is available in the library as

well as on the Internet.




REAL WORLD CASH




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from cash transactions in the real world, except for speed of transfer, ease of handling and the








CREDIT CARD BASED ELECTRONIC PAYMENTSYSTEM


alternative. There is nothing new in the basic process. If consumer wants to purchase or services,

they simply send their credit card detail to their service provider involved and the credit cardorganization will handle this payment like any other.


Payment using plain credit card detail: - The easiest method of payment is theexchange of unencrypted credit cards over a public network such as telephone lines or theInternet. The low level of security inherent in the design of the Internet makes this methodproblematic (any snooper can read credit card number, and programs can be created to scan the


a significant problem. And the vendor is usually responsible to ensure that the person using the

credit card is its owner. Without encryption there is no way to do this.




Payments using 3rd

party verification:- One solution to security and verificationproblem is the introduction of the 3

rdparty. A company that collects and approves payment from

one client to another. After a certain period of time, one credit card transaction for the total

accumulated amount is completed. Some of the companies that are attempting to provide the

infrastructure on-line credit card processing.


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insurance cover.

It provides purchase protection loss of travel, documents, loss of delay in arrival of baggagescreeched baggage.









Shop for a card with a grace period that gives you enough time to pay your bills on time without

charging you interest. Credit card with no grace period start charging you fees as soon as youbuy something on your credit card.



Community Development Credit Unions (CDCUs) offer credit cards as well. The fees, chargesand benefits for credit cards very among different companies. When youre choosing a card,







57/187



probably qualify for a credit card. Before you submit a credit card application, order a copy ofyour credit report to make sure all of the information on it is correct. After you check your credit

report, and fix any wrong information, you can start carefully researching credit card rates, feesand benefits. At the same time, make a list of the features you want in a credit card. Call any

credit any credit companies youre interested in for question and other available plans.


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Investigates the attitudes of Turkish consumers towards credit cards, and theapproach of card issuers, by surveying two samples of 200 card-holders and non-holders: the



















purchase behavior







60/187









Stavins (1996)






interest rates.


what extent? And because of this, scholar has to go through all the existing literature relation to


year back, very limited studies have been conducted on the subject. Due to time restrictionScholar could seek advice from only the limited literature, Which is available in the library as

well as on the Internet.It is the real world we have 3 ways to pay for goods: cash checkAnd credit cards or debit cards. Cards can be smart card, debit card, ATM cards and any kind of

credit cards. They all serve a special Purpose. They allow us to pay without cash. They are also


REAL WORLD CASH


make it easier to decide on the Worth of goods, and a store of value to facilitate the concept of



safety of not having to carry cash. Outside of the Internet, cash continues to be most widely used

of the payment.



61/187


Wide acceptance: - the U.S.Dollar happens to be most widely accepted paper currency in the

world because of its stability and durability.Anonymity: - No identification is needed to pay in cash.


countries where trust in currency, banking system, or the govt. is in question, cash is still used tobuy all kind of product including homes, automobiles and other big ticket item.


SYSTEM


vendors are also looking at credit card payment on the Internet as one possible time-tasted











Payments using 3rd






MASTER BANKING



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VISA INTERACTIVE




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Classic CardBrand name for the standard card issued by VISAGold Card/ Executive CardA credit card that offers a higher line of credit than a standard card,

income eligibility is also higher. In additions, issuers provide extra perks or incentives to

cardholders.

Platinum cardA credit card with a higher limit and additional perks than a gold card.Titanium CardA card with an even higher limit than a platinum card.



joining the scheme have increased vastly over the past few years. Many Indian banks have joinedhand with international banks to provide this card facility on a worldwide based or a selected

international centers. The number of credit card holders which was 8 lakh (1997), have increased



ELIGIBILITY


eligible customer before a credit card is given to a customer the banker analysis following factorsand accordingly fixes a credit limit if found eligible.



He is considered credit worthy up to a limit depending on his income, assets and expenditure and

past dealing with the bank.The eligible member is then asked to fill in an application from where in details of account

number, name and address, income, wealth, status and evidence statement of income etc. are

given. This application form is processed and credit limit is established. This credit limit differsfrom individual to individual and Bank to bank. The maximum limit depends upon the users




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It provides purchase protection loss of travel, documents, loss of delay in arrival of baggage

screeched baggage.





All credit cards have finance charges foror not paying your balance in fill each month, but youcould save a lot of money by shopping around for the credit card that offers you the best terms.







Community Development Credit Unions (CDCUs) offer credit cards as well. The fees, charges


shop around. CDCUs often offer the best rates and lowest fees, since they are not trying to makea profit like credit card companies are.





If you are least 18 years old, have a regular source of income and good credit rating; you canprobably qualify for a credit card. Before you submit a credit card application, order a copy of


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Stavins (1996)






interest rates.








REAL WORLD CASH


make it easier to decide on the Worth of goods, and a store of value to facilitate the concept ofsaving. For the purpose of E-commerce, electronic money must fulfill the first function. When


from cash transactions in the real world, except for speed of transfer, ease of handling and thesafety of not having to carry cash. Outside of the Internet, cash continues to be most widely used

of the payment.








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SYSTEM







internet traffic for credit cards number and send the number to its master). Authentication is alsoa significant problem. And the vendor is usually responsible to ensure that the person using thecredit card is its owner. Without encryption there is no way to do this.




Payments using 3rd

party verification:- One solution to security and verification

problem is the introduction of the 3

rd

party. A company that collects and approves payment fromone client to another. After a certain period of time, one credit card transaction for the total

accumulated amount is completed. Some of the companies that are attempting to provide theinfrastructure on-line credit card processing.

MASTER BANKING


VISA INTERACTIVE




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Hotel discounts



Accident insurance

Insurance on goods purchasedWaiver of payment in case of accidental deathHousehold insurance




gone.




future.












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interest rates.




Scholar could seek advice from only the limited literature, Which is available in the library aswell as on the Internet.




REAL WORLD CASH







Wide acceptance: - the U.S.Dollar happens to be most widely accepted paper currency in theworld because of its stability and durability.

Anonymity: - No identification is needed to pay in cash.





SYSTEM


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vendors are also looking at credit card payment on the Internet as one possible time-tasted








Payment using encrypted credit card details: -It would make sense to encrypted your

credit card details before sending them out, but even then are certain factors to considered. Onewould be the cost of credit card transaction itself. Such cost would prohibit low value payment


Payments using 3rd






MASTER BANKING


VISA INTERACTIVE




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ELIGIBILITY






He is considered credit worthy up to a limit depending on his income, assets and expenditure andpast dealing with the bank.

The eligible member is then asked to fill in an application from where in details of accountnumber, name and address, income, wealth, status and evidence statement of income etc. are









Hotel discountsTravel fare discounts

Free global calling card

Lost baggage insuranceAccident insurance




82/187



credit card than to carry around cash. If you lose your credit car, you can ask your credit card

company to cancel your card, and no one else can use it. But if you lease cash your money isgone.




future.



Credit card increases credit portfolio of the bank.Credit card enhances the reputation of the bank public.

The business establishments, which accept these cards, also give some incentives or commissionto bank, by which the bank gains.






insurance cover.It provides purchase protection loss of travel, documents, loss of delay in arrival of baggage

screeched baggage.





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a means of payment and a source o

Standard Segregation of Credit Card

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