Documente Academic
Documente Profesional
Documente Cultură
concept
1.
History
2.
Introduction
3.
4.
Credit card
Introduction
Advantage & Disadvantages
Steps in credit card transaction
Different types of credit cards
Credit card data
5.
Debit card
Introduction
Types of debit card systems
Benefits & Features of debit cards
Process debit card transactions
Plastic fraud
6.
7.
8.
9.
Case study
10. Conclusion
11. Bibliography
Page. no
CHAPTER1
CREDIT CARD
INTRODUCTION:A credit card is a small plastic card issued to users as a system of
payment. It allows its holder to buy goods and services based on the holder's
promise to pay for these goods and services. The issuer of the card grants a line
of credit to the consumer or the user) from which the user can borrow money
for payment to a merchant or as a cash advance to the user. Usage of the term
"credit card" to imply a credit card account is a metonym.
When a purchase is made the user would indicate consent to pay by
signing a receipt with a record of the card details and indicating the amount to
be paid. Issuer agrees to pay the merchant and the credit card user agrees to pay
the card issuer.
DEFINITION:The credit card can be defined as A small plastic card that allows its
holder to buy goods and services on credit and to pay at fixed intervals through
the card issuing agency
The credit card relieves the consumers from the botheration of carrying
cash and ensures safety. It is a convenience of extended credit without
formality. Thus credit card is a passport to, safety, convenience, prestige and
credit.
a) A credit card is an integral part of banks major services these days. The
credit card provides the following advantages to the bank: the system provides
an opportunity to the bank to attract new potential costumers.
b) To get new customers the bank has to employee special trained staff. This
gives the bank an opportunity to find the latent talent from among existing staff
that would have been otherwise wasted.
e) More use by the car holder and consequently the growth of banking habits in
general.
f) Better network of card holders and increased use of cards means higher
popularity and image of the bank
g) Savings of expense on cash holdings, i.e. stationery, printing and man power
to handle clearing transactions while considerably is reduced. It increases
a) He can purchase goods and services at a large number of outlets without cash
or cheque.The card is useful in emergency, and can save embarrassment.
b) The risk factor of carrying and storing cash is avoided. It is convenient for
him to carry credit card and he has trouble free travel and may purchase his
without carrying cash or cheque.
d) The card holder has the period of free credit usually between 30-50 days of
purchase
e) Cash can usually be obtained with the card, either on card account or by
using it as identification when encasings a cheque at the bank.
g) The credit card saves trouble and paper work to traveling business man.
c) The retailers gain from the impulse buying and trading up the tendency to
buy the bigger or better article
a) Some credit card transactions take longer time than cash transactions because
of various formalities.
d) The cardholder is responsible for charges due to loss or theft of the card and
the bank may not be party for loss due to fraud or collusion of staff, etc
f) It might lead to spending habits and cardholders may end up in big debts
i) Avoid the entire cost and security problem involved in handling cash.
MARKETING STRATEGIES
more
than
doubling
the
$105.97
billion
spent
in
1980.
One of the easiest ways to attract customers is to figure out which group
of prospective customers you get your very best results for and go after them
exclusively. Many professionals are afraid to do this claiming that theyll be
leaving someone out, but many marketing experts agree that niche marketing as
the easiest and
fastest way to get business.
10
architect
and
11
interior
designer.
Commercial
printer,
copywriter,
graphic
designer.
To start, go through your notes. Put together a list of all of the people
youve spoken to in the last 6-9 months whove showed interest in you but
havent become paying customers. Follow up with them in a variety of ways:
call them to touch base, use email, ask them to subscribe to a newsletter, send
them interesting articles, or invite them to join you at events. It takes numerous
impressions to make the sale; thats why you see commercials on TV over and
over again for the same products.
By Keeping track of all of the people whove showed interest and
keeping your business on their radar screen youll turn more of them into
paying customers.
are
couple
of
ways
to
do
this:
Ask them for referrals - right away (if you were a car salesman you wouldnt
wait
for
the
new
car
to
12
get
dirty
and
dented!)
Ask them to write testimonials for you, (also right away) and compile a list of
testimonials to use in your all of your marketing collateral.
THE
MECHANICS
13
OF
The card issuer is the bank that issues the credit card to the cardholder. The
merchant acquirer, often a bank, processes transactions on behalf of the
merchant. "Card Association" is another term used to describe Visa and
MasterCard.
The use of a card involves an exchange of value between a consumer and a
business. The card represents an offer for payment in exchange for the
merchants goods or services. The sales draft itself is the cardholders promise
to pay. When an acquirer accepts a draft from merchants, the bank is buying the
value represented by the draft and paying the merchant the face value of that
sales draft. Collecting payment through the interchange systems is a two-part
process
1. Clearing:
14
During the clearing process the acquirer provides the appropriate issuer
with information on the sale. No money is exchange during clearing. Clearing
involves the exchange of data only. The acquirer provides data required to
identify the cardholders account and provide the dollar amount of the sales.
When the issuing bank gets this data, the bank posts the amount of the sale as a
draw against the cardholders available credit and prepares to send payment to
the acquirer.
2. Settlement:
The second step is the actual exchange of funds. The issuer sends a
record of money that is being transferred from its account to that of the
acquirer. From this account the acquirer pays the merchant. Funds are settled
between issuers and acquirers through accounts with large banks that are
members of the Federal Reserve System and have been selected for that
purpose. Payments to merchants are made usually through the Federal
Reserves Automated Clearing House (the ACH) which is an electronic funds
transfer system.
3. Transaction Processing
15
16
17
Draft capture is the process of transferring sales draft data into electronic
format so that it may be sent through the interchange networks for clearing and
settlement. Data identifying the cardholder account and expiration date is put
into the point of sales terminal, either by swiping the card thorough a card
reader or manually keying the information into the terminals keypad. The
amount of the sales is then entered and an authorization requested. Once an
authorization code has been received, the terminal is prompted to store data on
the completed sale in its memory.
.
2. Back-End Processing
account. During back-end processing reports are created for distribution to the
acquirers that include:
1) Settlement data
2) Security/fraud data
3) Retrieval/chargeback data
4) Funds disbursements data
Transactions for internet and other card not present environments work
similarly but can have additional processing steps. Both Visa and MasterCard
have Internet authentication programs (not to be confused with authorization)
named Verified by Visa (By) and MasterCard Secure Code (MCSC) that do
alter the transaction process somewhat. If the cardholder is registered with one
of these programs, they must provide a pre-registered password at the time of
purchase. This password is then passed along as part of the information flow of
the transaction (these programs and other techniques for controlling fraud are
discussed in more detail later in this section).
Visa and MasterCard offer both signature debit and credit cards to consumers.
The primary difference between signature debit transactions and credit
transactions are that debit cards are linked to a bank account.
Rather than offering the cardholder 30 days of float and the option to finance
ongoing balances, debit cards simply debit the cardholders bank account for
authorized purchases. Signature debit transactions (which are sometimes also
referred to as offline debit, a misleading reference and not to be confused with
an offline EFT debit transaction) are different from PIN debit transactions in
that the transaction does not involve use of a PIN number at the time of
19
20
Each bank / NBFC must have a well documented policy and a Fair
Practices Code for credit card operations. In March 2005, the IBA released a
Fair Practices Code for credit card operations which could be adopted by banks
/ NBFCs. The bank / NBFC's Fair Practice Code should, at a minimum,
incorporate the relevant guidelines contained in this circular.
Guidelines
1.
for
Implementation
Issue
of
21
cards
a) Banks / NBFCs should independently assess the credit risk while issuing
cards to persons, especially to students and others with no independent financial
means. Add-on cards i.e. those that are subsidiary to the principal card, may be
issued with the clear understanding that the liability will be that of the principal
cardholder.
b) As holding several credit cards enhances the total credit available to any
consumer, banks / NBFCs should assess the credit limit for a credit card
customer having regard to the limits enjoyed by the cardholder from other
banks
on
the
basis
of
self
declaration/
credit
information.
c) The card issuing banks / NBFCs would be solely responsible for fulfillment
of all KYC requirements, even where DSAs / DMAs or other agents solicit
business
on
their
behalf.
d) While issuing cards, the terms and conditions for issue and usage of a credit
card should be mentioned in clear and simple language (preferably in English,
Hindi and the local language) comprehensible to a card user. The Most
Important Terms and Conditions (MITCs) termed as standard set of conditions,
as given in the Appendix, should be highlighted and advertised/ sent separately
to the prospective customer/ customers at all the stages i.e. during marketing, at
the time of application, at the acceptance stage (welcome kit) and in important
subsequent communications
2.
Interest
rates
and
22
other
charges
a) Card issuers should ensure that there is no delay in dispatching bills and the
customer has sufficient number of days (at least one fortnight) for making
payment
before
the
interest
starts
getting
charged.
in
the
monthly
statement.
c) The bank / NBFC should not levy any charge that was not explicitly
indicated to the credit card holder at the time of issue of the card and getting his
/ her consent. However, this would not be applicable to charges like service
taxes, etc. which may subsequently be levied by the Government or any other
statutory
authority.
d) The terms and conditions for payment of credit card dues, including the
minimum payment due, should be stipulated so as to ensure that there is no
23
negative
amortization.
e) Changes in charges (other than interest) may be made only with prospective
effect giving notice of at least one month. If a credit card holder desires to
surrender his credit card on account of any change in credit card charges to his
disadvantage, he may be permitted to do so without the bank levying any extra
charge for such closure
3.
Wrongful
24
billing
a) The card issuing bank / NBFC should ensure that wrong bills are not raised
and issued to customers. In case, a customer protests any bill, the bank / NBFC
should provide explanation and, if necessary, documentary evidence to the
customer within a maximum period of sixty days with a spirit to amicably
redress
the
grievances.
4.
suitable
Use
of
DSAs
security
DMAs
built
and
therefore.
other
agents
a) when banks / NBFCs outsource the various credit card operations, they have
to be extremely careful that the appointment of such service providers does not
compromise with the quality of the customer service and the bank / NBFCs
ability to manage credit, liquidity and operational risks. In the choice of the
service provider, the bank / NBFCs have to be guided by the need to ensure
confidentiality of the customers records, respect customer privacy, and adhere
to fair practices in debt collection.
b) The Code of Conduct for Direct Sales Agents (DSAs) formulated by the
Indian Banks Association (IBA) could be used by banks / NBFCs in
formulating their own codes for the purpose. The bank / NBFC should ensure
that the DSAs engaged by them for marketing their credit card products
scrupulously adhere to the bank / NBFCs own Code of Conduct for credit card
operations which should be displayed on the bank / NBFCs website and be
25
available
easily
to
any
credit
card
holder.
c) The bank / NBFC should have a system of random checks and mystery
shopping to ensure that their agents have been properly briefed and trained in
order to handle with care and caution their responsibilities, particularly in the
aspects included in these guidelines like soliciting customers, hours for calling,
privacy of customer information, conveying the correct terms and conditions of
the product on offer, etc.
Protection
of
Customer
Rights
I.
Right
to
privacy
the
value
of
the
charges
reversed.
b) Unsolicited loans or other credit facilities should not be offered to the credit
card customers. In case, an unsolicited credit facility is extended without the
consent of the recipient and the latter objects to the same, the credit sanctioning
bank / NBFC shall not only withdraw the credit limit, but also be liable to pay
such penalty as may be considered appropriate
c) The card issuing bank / NBFC should not unilaterally upgrade credit cards
and enhance credit limits. Prior consent of the borrower should invariably be
taken
whenever
there
is
any
change/s
in
terms
and
conditions.
d) The card issuing bank / NBFC should maintain a Do Not Call Registry
(DNCR) containing the phone numbers (both cell phones and land phones) of
customers as well as non-customers (non-constituents) who have informed the
27
bank / NBFC that they do not wish to receive unsolicited calls / SMS for
marketing of its credit card products. The DNCR should be set up within two
(2) months from the date of this circular and wide publicity should be given to
the arrangement
e) The intimation for including an individuals telephone number in the Do Not
Call Registry (DNCR) should be facilitated through a website maintained by the
bank / NBFC or on the basis of a letter received from such a person addressed
to the bank / NBFC.
f) The card issuing bank / NBFC should introduce a system whereby the DSAs/
DMAs as well as its Call Centers have to first submit to the bank / NBFC a list
of numbers they intend to call for marketing purposes. The bank / NBFC should
then refer to the Do Not Call Registry (DNCR) and only those numbers which
do not figure in the Registry should be cleared for calling.
g) The numbers cleared by the card issuing bank / NBFC for calling should
only be accessed. The bank / NBFC would be held responsible if a Do Not Call
Number (DNCN) is called on by its DSAs / DMAs or Call Centre/s.
h) The card issuing bank / NBFC should ensure that the Do Not Call Registry
(DNCR) numbers are not passed on to any unauthorized person/s or misused in
any
manner.
28
I.)Banks / NBFCs/ their agents should not resort to invasion of privacy viz.,
persistently bothering the card holders at odd hours, violation of "do not call"
(ii)
Customer
confidentiality
a) The card issuing bank / NBFC should not reveal any information relating to
customers obtained at the time of opening the account or issuing the credit card
to any other person or organization without obtaining their specific consent, as
regards the purpose/s for which the information will be used and the
organizations with whom the information will be shared. Banks / NBFCs
should satisfy themselves, based on specific legal advice that the information
29
being sought from them is not of such nature as will violate the provisions of
the laws relating to secrecy in the transactions. Banks / NBFCs would be solely
responsible for the correctness or otherwise of the data provided for the
purpose.
c)
30
d) The disclosure to the DSAs / recovery agents should also be limited to the
extent that will enable them to discharge their duties. Personal information
provided by the card holder but not required for recovery purposes should not
be released by the card issuing bank / NBFC. The card issuing bank / NBFC
should ensure that the DSAs / DMAs do not transfer or misuse any customer
information during marketing of credit card products.
(iii)
Fair
Practices
in
debt
collection
a) In the matter of recovery of dues, banks / NBFCs may ensure that they, as
also their agents, adhere to the extant instructions on Fair Practice Code for
lenders (circular DBOD. Leg. No. BC. 104 /09.07.007 / 200203 dated May 5,
2003) as also IBAs Code for Collection of dues and repossession of security.
In case banks / NBFCs have their own code for collection of dues it should, at
the minimum, incorporate all the terms of IBA's Code.
31
and
anonymous
calls
or
making
false
and
misleading
representations.
6.
Redresses
of
Grievances
a) generally, a time limit of sixty (60) days may be given to the customers for
preferring
their
complaints
32
grievances.
b)
machinery within the bank / NBFC and give wide publicity about it through
electronic and print media. The name and contact number of designated
grievance redresses officer of the bank / NBFC should be mentioned on the
credit card bills. The designated officer should ensure that genuine grievances
of credit card subscribers are redressed promptly without involving delay.
c) The grievance redresses procedure of the bank / NBFC and the time frame
fixed for responding to the complaints should be placed on the bank / NBFC's
website. The name, designation, address and contact number of important
executives as well as the Grievance Redresses Officer of the bank / NBFC may
be displayed on the website. There should be a system of acknowledging
customers' complaints for follow up, such as complaint number / docket
number, even if the complaints are received on phone.
d) If a complainant does not get satisfactory response from the bank / NBFC
within a maximum period of thirty (30) days from the date of his lodging the
complaint, he will have the option to approach the Office of the concerned
Banking Ombudsman for redresses of his grievance/s. The bank / NBFC shall
be liable to compensate the complainant for the loss of his time, expenses,
financial loss as well as for the harassment and mental anguish suffered by him
for the fault of the
Bank and where the grievance has not been redressed in time.
33
8.
Right
to
impose
penalty
The Reserve Bank of India reserves the right to impose any penalty on a
bank / NBFC under the provisions of the Banking Regulation Act, 1949 for
violation of any of these guidelines.
34
35
the right card, you can begin by considering the many types of cards available
to you:
These cards are really a product of our fast-paced society. The idea
behind this type of credit card is that once you fill out your application, you will
be told whether you are approved or not right away. The approval process only
takes a few minutes. Instant approval credit cards are very popular online and
applicants
can
apply
via
the
internet
or
over
the
phone.
If you are very impatient or need credit right away, these types of cards
can be for you. However, you should be aware that these cards do not guarantee
that you will be approved right away - sometimes, more time is needed to
process your application. Another drawback to these cards is that they rely
36
heavily on your credit score. If you have poor credit or any extenuating
financial circumstances, these types of cards may not be for you.
If you are in debt, a balance transfer card can be a great way to get out of
debt. It offers the convenience of one bill and low rates. However, some cards
have high fees. Also, if you run up your other cards after consolidating your
debts or if you are unable to pay off your new card in the limited time before
the low interest rate increases, you may find yourself even more in debt than
before.
into
draw
to
37
win
specific
prizes.
These types of cards are really a marketing tool for card companies.
Companies know that customers love rewards and prizes and so offer these
enticements to lure customers. The major advantage of these cards is that they
can help you get more cash value for your money. They can also be fun and
rewarding for almost any credit card customer. However, not all reward credit
cards are a deal. Some charge high fees to offset the costs of the bonuses. Some
also have very low points systems, meaning that you need to spend a lot with
your credit card to get any rewards at all. Read the fine print carefully before
signing.
Cash
Back
Credit
Cards
Cash back credit cards give you money rewards. When you make a
purchase with this type of credit card, you get some points based on the amount
of money you have spent with your credit card. When you accumulate enough
points, you get cash back. On most cards, you can get back about 1% of your
total purchases.
These cards are great for those who are budget-conscious as they give
you some money back from your purchases. However, there are several
drawbacks to these types of cards. Some cards have low cash-back percentage
38
rates. Some charge high fees or have limits on how much money you can get
back each year. Most cards only offer you cash back advantages on purchases not on your balance. If you decide this card is right for you, do compare several
card offers to find the best cash back credit card option.
card.
39
shorter
credit
histories
than
the
average
customer.
If you are a student, student credit cards can be a great option. They are
40
simple to use and can help you build a good credit rating before you graduate.
However, there are some disadvantages to student credit cards. These cards may
have no reward programs and may have fewer benefits, including fewer
bonuses and services, than other cards.
card
for
your
business
41
is
more
convenient.
Types of Credit
Cards offered
By
Indian Banks
42
Silver Cards
Silver credit cards rank lowest among the metal named cards, and,
because of lower prestige when compared to gold and platinum cards, are
commonly known as basic and standard credit cards. Silver credit cards come
with advantages such as lower annual membership fees if there is any, and a
lower threshold salary which banks use to evaluate your application in case you
should apply.
Silver credit cards will provide you with almost the same credit limit as
other cards provided you have a good credit history. You can also avail of 0%
interest balance transfer schemes which are made available for a period of 6-9
months for silver card holders.
There are also some disadvantages to using silver credit cards. One
would be the lower cash advance limits, less rewards and promotional
packages, and less travel perks compared to gold and platinum cards.
HDFC Bank, ICICI offer silver credit cards through their HDFC Bank Silver
cards and ICICI Sterling Silver credit card
43
If you have a gold or platinum card, you also get better perks and
privileges such as travel insurance, extended warranties for appliance purchases
and special deals on specific products, and purchase protection insurance.
You can also engage in some loyalty schemes that are offered for gold and
platinum credit card holders which can sometimes involve cash back promos
and reward points systems.
Some popular gold and platinum cards available are the American Express Gold
card, and the ICICI Solid Gold Credit Card.
It is not possible to cover them the exact offerings of these cards but I
will highly advice you to check all these websites of the banks to get all the info
about the credit cards they are offering. Also try to talk to your friends who are
having credit cards to get more info.
CHAPTER 2
44
DEBIT CARD
A debit card (also known as a bank card or check card) is a plastic card
that provides an alternative payment method to cash when making purchases.
Functionally, it can be called an electronic cheque, as the funds are withdrawn
directly from either the bank account or from the remaining balance on the card.
In some cases, the cards are designed exclusively for use on the Internet, and so
there is no physical card.
In many countries the use of debit cards has become so widespread that
their volume of use has overtaken the cheque and, in some instances, cash
transactions.
Like credit cards, debit cards are used widely for telephone and Internet
purchases and, unlike credit cards, the funds are transferred immediately from
the bearer's bank account instead of having the bearer pay back the money at a
later date.
Debit cards may also allow for instant withdrawal of cash, acting as the
ATM card for withdrawing cash and as a cheque guarantee card. Merchants
may also offer cash back facilities to customers, where a customer can
withdraw cash along with their purchase.
45
other countries, but not the United States) and are used at the point of sale like a
credit card (with payer's signature). This type of debit card may be subject to a
daily limit, and/or a maximum limit equal to the current/checking account
balance from which it draws funds. Transactions conducted with offline debit
cards require 23 days to be reflected on users account balances. In some
countries and with some banks and merchant service organizations, a "credit" or
offline debit transaction is without cost to the purchaser beyond the face value
of the transaction, while a small fee may be charged for a "debit" or online debit
transaction (although it is often absorbed by the retailer). Other differences are
that online debit purchasers may opt to withdraw cash in addition to the amount
of the debit purchase (if the merchant supports that functionality); also, from the
merchant's standpoint, the merchant pays lower fees on online debit transaction
as compared to "credit" (offline) debit transaction
47
Prepaid debit cards, also called reload able debit cards or reload able
prepaid cards, are often used for recurring payments. The payer loads funds to
the cardholder's card account. Prepaid debit cards use either the offline debit
system or the online debit system to access these funds. Particularly for
companies with a large number of payment recipients abroad, prepaid debit
cards allow the delivery of international payments without the delays and fees
associated with international checks and bank transfers. Providers include
Caxton FX prepaid cards, [ Escape prepaid cards and Travelex prepaid cards. [
Whereas, web-based services such as stock photography websites (stockpot),
outsourced services (odes), and affiliate networks (Media Whiz) have all started
offering prepaid debit cards for their contributors/freelancers/vendors.
48
NO BACKGROUND CHECK
When we are applying for a debit card, the ban does not need to look into our
credit history. All we need is the documentation to open a bank, account, and
money in our bank when we use our debit card.
CASH WITHDRAWALS
The customer can withdraw a minimum of Rs. 100/- and a maximum Rs.10,
000/- per day
CONVENIENCE
A Debit card fees us from carrying a lot of cash or a cheque book. In case, we
are an international traveler, we dont need to stock up on Travelers Cheques
or cash. We can use our debit card to withdraw Cash from over 500,000 ATMs
around the world in over 100 countries. We can withdraw in the local currency
of the country we are in, limited only by the money we have back home in our
account, and Business Travel Quota (BTQ) limit arability.
FAIR EXCHANGE
49
STATEMENT OF ACCOUNT
A statement of transactions can be obtained from the customers branch. For
example, a mini statement containing the last four transactions and balance can
be obtained at a State Bank Group during the working hours of the customers
branch.
Your Debit card can be used as ATM card at any ATM across the world, as
well as for making purchase at merchant locations. You can also withdraw cash
from any of the 12000 ATMs in India.
50
B) The Debit Card services in meant for withdrawals against the balance
already available in the designated account.
C) It is the card holders obligation to maintain sufficient balance in the
designated account to meet withdrawals and service charges.
D) A Debit card is more affordable than credit card. We just our bank account
for all our transactions.
No credit period. Our bank account is debited immediately.
NO GRACE PERIOD
A) Unlike a credit card, debit card transactions are on a pay now basis
LIMITED PROTECTION
51
B) Using a debit card may mean we have less protection than we would have
with a credit card for undelivered or defective goods.
52
53
An offline debit card transaction is still the way most merchants accept
debit cards. This is essentially the same as processing credit cards. You swipe
your customers debit card through a credit card terminal and have them sign
the receipt.
If you choose to accept debit cards offline, be sure that the debit card has
a VISA or MasterCard logo. Otherwise, the debit card wont be approved and
you wont be able to process the debit card offline
54
For example, you pay a flat fee for each debit card transaction that you
process, instead the flat fee plus percentage rate that you are charged when you
accept credit cards. Over time, this can potentially save you a lot of money.
Another advantage when you process debit cards is that you cant be
charged higher downgrade fees.
In a credit card transaction, you are usually charged the discount rate.
However, some transactions are considered to be a higher risk or expense to the
bank, and you are charged a higher rate as a result.
55
But when you accept debit cards, you always pay the same flat rate, with
no danger of the rate increasing.
You can also cut down on checkout time when you accept debit cards. It
takes an average of 30 seconds to hand over the pen, wait for the customer to
sign the receipt, and then take the pen back.
If you process 20 credit card transactions a day, youre losing 100
minutes a day just passing a pen back and forth! Thats almost two hours
56
Plastic Fraud
State-of-the-art thieves are concentrating on plastic cards. In the past, this
type of fraud was not very common. Today, it is a big business for criminals.
Plastic cards bring new convenience to your shopping and banking, but they can
turn into nightmares in the wrong hands. This pamphlet describes credit and
debit cards and some common schemes involving card fraud with tips to help
you avoid them
New Technology
57
Credit
Card
Data:
Most
popular
and
in
some
instance
American
Express.
ICICI
Bank
5.07
Mn
HDFC
Bank
4.42
Mn
SBI
Cards
2.65
Mn
2.54
Mn
1.3
Mn
Citibank
HSBC
Cards
ABN
Amro
0.78
Mn
Axis
Bank
0.57
Mn
0.495
Mn
Deutsche
Bank
American
Express -
0.45
CHAPTER 5
59
Mn
QUESTIONNARIES
60
Easier budgeting. With a credit card, you can make purchases and pay them off
on a schedule that fits your budget. Credit cards also allow you to take
advantage of sales and special offers.
3. Reason to establish a good credit history
Establishing a good credit history is an important part of your personal and
financial future. It can help open doors for you or keep them locked.
A variety of people and businesses make decisions affecting your future that are
based on your credit history. Banks and other lenders consider your credit
report when reviewing applications for mortgages, revolving lines of credit, or
other loans. Landlords sometimes use credit reports to decide among rental
applicants. And a potential employer may even assess an applicant's credit
report before extending a job offer.
Debit Card is an electronic purse, which allows the holder to withdraw cash
from ATMs and also enables him to purchase goods or services from the
member establishments. Debit Cards are mostly issued in collaboration either
with VISA or MasterCard.
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CONCLUSION
21ST Century banking has become wholly customer-driven & technology
driven by challenges of competition, rising customer expectations & shrinking
margins, banks have been using technology to reduce cost & enhance
efficiency, productivity & customer convenienence. Technology intensive
delivery channels like net banking, mobile banking, etc have created a win-win
situation by extending great convenienence. & multiple options for customer.
They also need to identify potential customers and target those using
mailers. As internet is growing at a fast rate the net users can be targeted by
having interactive sites. The prospective companys card personality could also
be used in the home page to solve customer queries in the Best Possible
Manner.
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BIBLIOGRAPHY
BOOKS
INOVATION IN BANKING & INSURANCE
FINANCIAL MARKET & SERVICES
INDIAN BANKING INDUSTRIES
INDIAN BANKING
TIMES OF INDIA NEWS PAPER (1st OCT 2010)
WEBSITE
WWW.GOOGLESERCH.COM
WWW.YAHOO.COM
WWW.RBI.ORG
WWW.WIKIPEDIA .COM
WWW.INFOSEE.COM
WWW.INDIANMBA.COM
WWW.INDINBANKING.ORG
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