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Question
The term 'Plastic Money' refers to ___________________.
The term 'Plastic Money' refers to ___________________.
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Solution
The correct option is A ATM cards
Plastic money refers to the hard plastic cards we use every day in place of actual bank notes. For example ATM cards like credit card and debit
card are electronic generated card that acts as plastic money at the time of
buying of goods and services. Debit card is used to withdraw money from your
bank account at the time of payment for something and credit card is used to
generate credit in the name of your bank account for the purpose of electronic
payment.
Plastic money refers to the hard plastic cards we use every day in place of actual bank notes. For example ATM cards like credit card and debit card are electronic generated card that acts as plastic money at the time of buying of goods and services. Debit card is used to withdraw money from your bank account at the time of payment for something and credit card is used to generate credit in the name of your bank account for the purpose of electronic payment.
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