Mandeep Kaur and Kamalpreet Kaur(2008), in their article, Development of Plastic

Cards Market: Past, Present and Future Scenario in Indian Banks conclude that
Indian banking sector is accepting the challenge of information technology as all the
groups of bankers have now recognized it as essential requirement for their survival
and growth in future Despite the strong advances in e-payments, an estimated 90
percent of personal consumption expenditure in India is still made with cash which
indicates the tremendous growth potential of this business. So this can be
considered as mere beginning which indicates the bright future prospects of plastic
card market in India.
P Manivannan (2013) in his research paper Plastic Money a way for cash Less
Payment System examined that Plastic Money i.e. usage of Credit card was
measured a luxury, and has become needed. These plastic money and electronic
payments was and used by only higher income group. This facility extended not
only to customers in urban areas or cities, but also to customers residing in rural
area. However, today, with development of banking and trading activity, the fixed
income group or salaried classes are also start using the plastic money and
electronic payment systems and particularly Credit cards.
Anupama Sharma (2012)in her research paper Plastic card frauds and the
countermeasures:towards a safer payment mechanism have thrown light on the
number of frauds increased considerably in the usage of plastic cards as in case of
plastic card frauds the most affected parties are the merchants of goods and
services as they have to bear the full liability for losses due to frauds, the banks
also bears some cost especially the indirect cost whereas the cardholders are least
affected because of limited consumer liability and concluded that all these losses
can be dealt with by making the prudent use of the new technology and taking the
respective counter measures
Bansi Patel and Urvi Amin (2012)in their research paper Plastic Money : Roadmay
Towards Cash LessSociety discussed that now days in any transaction Plastic
money becomesinevitable part of the transaction and with it life becomes more
easy and development would take better place and alongwith the plastic money it
becomes possible that control the money laundry and effective utilization of
financial system wouldbecome possible which would also helpful for tax legislation.
Vijay D Silva, Jack Stephenson Smith and Robert.M. Wait man(2009)76 in their book
had discussed the internet revolution which influenced and shaped the many
business that did not affect the credit card industry. Sweeping changes were being
made in plastic money industry. The competition was heating up between the on line and traditional credit card issuers. But the conventional issues had their brand
names, good customer relationships and large scales to their advantage. For the
first mover advantages

to accrue, the issuers had to make a head start to make their presence felt in the
virtual world. They suggest either cut cost or add value to their services to survive
in the industry.
Sunayna Khurana and S P Singh (2011)81 conducted a study to identify the factors
that influence the choice of credit cards and customer preferences and expectations
from credit/debit card services. A special focus was given on in Tier-III cities. From
200 respondents, the data was collected through questionnaires. Analysis of data
revealed that the choice of credit card depends upon income, gender and profession
of the respondents. It also revealed that income, frequency and the amount of
usage in a month.
(Gupta & Vyas, 2014)says that m commerce is at emerging level in India and it is
complex to adapt. People have started using mobile not only to make phone call but
use it for web access, chatting, surfing and also shopping. He has discussed about
how m-commerce is developing in India and identified clear context and assistant
mechanism. He had discussed about benefits and drawbacks of m-commerce in
India, similarly as coin has two aspects so as every technology has.
(Batra & Juneja, 2013)has extended their research on mobile commerce in India. It
lists the issues faced by M Commerce Industry. He has quoted some definitions of M
Commerce by Lehman Brothers, Ovum, and Forrester. The various devices had been
discussed. He had also studied the sales and available users of smartphones in India
which shows tremendous increase in the graph although it is new in India. According
to him the growth drivers of m-commerce are Instant Connectivity, Personalization
factor, mobility Factor, Immediacy, Localization etc.

There is a huge potential for the expansion of the prepaid cards market, provided all
government and other cash transactions are routed through prepaid cards. The current
regulatory landscape favours banks but they focus more on credit and debit cards instead of
prepaid cards, while non-banking card issuers are constrained by regulations, the report
said. http://www.business-standard.com/article/companies/m-payment-industry-in-india-totouch-1-15-billion-by-2016-112121700056_1.html
K Rajani Kanth | Hyderabad December 17, 2012

Jia Loke Yiing (2007) in his study Determinants of merchantparticipation in credit

card payment scheme" aimed to empirically establish thedeterminants of merchant
participation in credit card payment schemes. lt is alsofound that a merchants
personal background, type of business and total value ofsale are significant in
determining a merchants acceptance of cards in paymenttransactions. Further, it is
also found that customers usage of credit cards andother merchants acceptance of
credit cards in payments have a significantinfluence on a merchants decision.
Findings also indicated that non-pecuniarystrategic factors are stronger drivers and

barriers to a merchants participation incredit card payments services compared to

monetary related factors.

Rangaswamy and Ramesh Kumar S. (2007)in his article Plasticmoney in retail

distribution highlighted the growth of plastic money particularlyATM cum debit cards, its
importance in retail distributions, cost effects, benefits,suggest some tips to avoid frauds
and necessity of increasing its usage.
Annamalai, S. and Muthu R. Iiakkuvan (2008) in their article Retailtransaction: Future
bright for plastic money projected the growth of debit andcredit cards in the retail
transactions. They also mentioned the growth factors,which leads to its popularity,
important constraints faced by banks andsummarized with bright future and scope of
plastic money.
Nayak, Tapan Kumar and Manish Agarwal (2008) in their paperConsumers behavior
in selecting credit cards discussed about the factorsinfluencing the selection of credit
cards among consumers. The major factorspoints out by them are service offers,
promotional offers, interest benefits,cash benefits, ease of payments, payment charges,
card benefits and timebenefit.
Sarangapani, A. and T. Mamatha (2008) in their article The growingprominence of
debit cards and credit cards in the Indian banking industry,highlighted the growing
prominence of debit and credit cards by giving necessarystatistics, comparative features
of both cards and also pointed out more popularityof debit cards than credit cards.
Subhani in 2011 conducted a study on Plastic Money/Credit Cards Charisma for
Now and Then. The study was based to find out the charisma of plastic money, its
usability and affordability and its impact on its preference to use. The research
found that the preference to use of plastic money/ credit card has its pros and cons
with its usability and affordability. According to the consumer behaviour, plastic
money is a form of conditioning and acts as a stimulus which qualifies a consumer
to spend. The study shows that the preference to go for plastic money has a
positive association with the easy use of plastic money because the precept of

credit card usability is linked with a psychological phenomena that people are likely
to spend less with credit card and spend more with the same amount of cash on
hand in the same budget and this precept also linked with the consumer self
convenience, i.e. convenience and easy use which delves into spending.
Loewenstein and Hafalir in 2012 conducted a study on The Impact of Credit Cards
on Spending. The study focused on two types of customers, revolvers (who carry
debt) and convenience users (who do not carry debt), and measured the impact of
payment with credit card as compared with cash by an insurance company
employees spending on lunch in a cafeteria. It was found that there was change in
the diners payment medium from cash to a credit card when an incentive to pay
with a credit card was given. It was then found out that credit cards do not increase
spending. However, the use of credit cards has a differential impact on spending for
revolvers and convenience users. Revolvers spend less when induced to spend with
a credit card, whereas convenience users display the opposite pattern.