+- Accountancy Forum (https://www.accountancy.com.pk/forum)
+-- Forum: The Profession (https://www.accountancy.com.pk/forum/forum-the-profession)
+--- Forum: Economics (https://www.accountancy.com.pk/forum/forum-economics)
+--- Thread: Plastic Money (/thread-plastic-money)
Plastic Money - awaisaftab - 07-02-2009
some years ago the economist specified 3 types of money, namely
1Paper Money
2.Metalic Money
3.Credit Moner
At the end of 20th century another form of money emerged which is called Plastic Money. The emergence of this money started from the intorduction of credtit cards. At the beginnig economist classified credit card also as credit money but introduction of Debit Card and ATM cards compelled economist to admit that another form of currecy has evolved that is "Plastic Money"
<b>Definition of Plastic Money</b>
A generic term which is used for all types of Bank Cards,Debit Cards, ATM Cards and Smart Cards.
Another definition may be
Any plastic card used to draw cash or purchase goods or services.
<b>Evolution</b>
Researchers believe that the evolution of plastic money started when in 1988 Australia introduced $10 polymer note.
<b>Security Risk with Plastic Money</b>
A PIN (Personal Identification Number) Code is used to perform transactions with plastic money . This PIN code should not be disclosed to anyone.
- samis899 - 02-16-2010
Interesting thread.......
I believe the 3 types of money mentioned by you will soon be out dated...
THERE will be only one form of money "ELECTRONIC MONEY" the 21st Century Money.
- awaisaftab - 02-16-2010
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by samis899</i>
<br />Interesting thread.......
I believe the 3 types of money mentioned by you will soon be out dated...
THERE will be only one form of money "ELECTRONIC MONEY" the 21st Century Money.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
It may happen but how many decades or centuries will require to reach at this stage,we don't know.