COMPARITIVE ANALYSIS ON CONSUMER PREFERENCE

BETWEEN PLASTIC MONEY AND CASH

By
XXXXX
MBA
Session (2013-15)


RESEARCH PROJECT



Submitted to:
XXXXXX






TITLE


Title of project: COMPARITIVE ANALYSIS ON CONSUMERS
PREFERENCE . BETWEEN PLASTIC MONEY
AND CASH

Name of the Student: XXXXX
Roll no: XXXXX
Name of the Institution:

Name of Advisor:







INTRODUCTION

PLASTIC MONEY
Plastic money is a term that is used predominantly in reference to the hard plastic cards we use
every day in place of actual bank notes. They can come in many different forms such as cash
cards, credit cards, debit cards, pre-paid cash cards and store cards.

Cash Cards - A card that will allow you to withdraw money directly from your bank via an

Authorized Teller Machine (ATM) but it will not allow the holder to purchase anything directly
with it.

Credit Cards - Again this card will permit the card holder to withdraw cash from an ATM, and
a credit card will allow the user to purchase goods and services directly, but unlike a Cash Card
the money is basically a high interest loan to the card holder, although the card holder can avoid
any interest charges by paying the balance off in full each month.

Debit Cards - This type of card will directly debit money from your bank account, and can
directly be used to purchase goods and services. While there is no official credit facility with
debit cards per se, as it is linked to the bank account the limit is the limit of what is in the
account, for instance if an overdraft facility is available then the limit will be the extent of the
overdraft.

Pre-paid Cash Cards - As the name suggests the user will add credit to the card themselves, and
will not exceed that amount. These are usually re-useable in that they can be 'topped up' however
some cards, usually marketed as Gift Cards are not re-useable and once the credit has been spent
they are disposed of.

Store Cards - These are similar in concept to the Credit Card model, in that the idea is to
purchase something in store and be billed for it at the end of the month. These cards can be
charged at a very high interest rate and can are limited in the places they can be used, sometimes
as far as only the store brand that issued it.
CASH

Cash refers to money in the physical form of currency, such as banknotes and coins.


ADVANTAGE AND DISADVANTAGE OF PLASTIC MONEY TO
CONSUMER

Advantages of Plastic money:

Easy to handle- it prevents to carry out heavy wallets, hence, reducing the chances of theft.

Easy access to money- in the situation of instantaneous want for money, one can withdraw /
debit the demanded cash amount from the account and thus prevents any risk of getting
marooned in travelling.

Easy availability- Now a days every bank facilitates with Credit cards as long as the
account become active. The cash ATM machines are also open 24/ 7, therefore whenever in
need one does not have to wait for the banks to open, but can take out the money using the
card.

Miles of Cards- Most credit cards companies offer miles on every purchase. This indicates
that by using the card for purchasing, there are points added which get aggregated in the
users account. Lastly, when a good amount of these points get collected, the consumer can
use them for purchasing any product for free, hence making a double use of money is another
advantage of plastic money.



Disadvantages of Plastic money:

Just a plastic- Besides all the advantages, Credit card is just a plastic which can get either
lost or stolen. This may results in crimes in which extensive purchases can be made under the
name of the account holder. These cases might get resolved in the benefit of the applicant,
but there is still an identity theft which is a very serious issue.

Shops using other vendors- There are numerous shops which accept credit cards of a
specific company only. In this situation the cash is the only way of payment for those who
use a credit card of another company.


Less Global availability- There are many cases where various companies do not permit their
cards to be used in areas where they have a regional dispute with.

Worn out Magnetic strip- The magnetic strip of a credit card can get worn out due to
massive use. If such a condition happens while travelling, and this is the only way of cash
that the consumer has, then he or she has to wait till the time they receive a new card, which
can take a minimum of 48 hrs.














HISTORY BEHIND CREDIT/DEBIT CARD

CREDIT CARD

Credit is a method of selling goods or services without the buyer having cash in hand. A credit
card is only an automatic way of offering credit to a consumer. Today, every credit card carries
an identifying number that speeds shopping transactions. Imagine what a credit purchase would
be like without it, the sales person would have to record your identity, billing address, and terms
of repayment.
According to Encyclopedia Britannica, "the use of credit cards originated in the United States
during the 1920s, when individual firms, such as oil companies and hotel chains, began issuing

them to customers." However, references to credit cards have been made as far back as 1890 in
Europe. Early credit cards involved sales directly between the merchant offering the credit and
credit card, and that merchant's customer. Around 1938, companies started to accept each other's
cards. Today, credit cards allow you to make purchases with countless third parties.
The Shape of Credit Cards
Credit cards were not always been made of plastic. There have been credit tokens made from
metal coins, metal plates, and celluloid, metal, fiber, paper, and now mostly plastic cards.

Diners club Cards

In 1950, the Diners Club issued their credit card in the United States. The Diners Club credit
card was invented by Diners' Club founder Frank McNamara and it was intended to pay
restaurant bills. A customer could eat without cash at any restaurant that would accept Diners'
Club credit cards. Diners' Club would pay the restaurant and the credit card holder would repay
Diners' Club. The Diners Club card was at first technically a charge card rather than a credit card
since the customer had to repay the entire amount when billed by Diners Club.


First Bank Credit Card
The inventor of the first bank issued credit card was John Biggins of the Flatbush National Bank
of Brooklyn in New York. In 1946, Biggins invented the "Charge-It" program between bank
customers and local merchants. Merchants could deposit sales slips into the bank and the bank
billed the customer who used the card.


The Popularity of Credit Cards

Credit cards were first promoted to traveling salesmen (more common in that era) for use on the
road. By the early 1960s, more companies offered credit cards, advertising them as a time-saving
device rather than a form of credit. American Express and MasterCard became huge successes
overnight.

SIX FACTORS WHICH ARE CONSIDERED FOR APPLYING FOR
CREDIT CARD

1. Interest rate charged on credit cards
2. Annual Fees & Other charges
3. Rewards and Offers on Credit Card
4. Customer Service and Transparency
5. Convenience to pay the bills
6. How easy was it to apply for credit card


DEBIT CARD

History of debit card dates back around 20 years ago, which highlighted the introduction of e-
commerce and alternative means of payment.

The recent history of debit card indicates the rise in the usage of debit cards. History of debit
card reflects the dominance of the debit card as a means of making payments, becoming
increasingly popular. This alternative means of payment is gradually gaining ground with each
passing year.

History of debit card shows that back in 1990, the count of debit cards in circulation was
around 19 million.

The use of debit card boomed to 28.8 million in 2006 and is expected to reach34.4 million in
2016.


History of debit card has shown that food and drink has dominated the scenario of the
majority of the transactions involving a debit card.
It indicates that the last 20 years have witnessed a radical change in the payment options
and the plastic card has replaced cash.


DEBIT CREDIT CARD USEAGE IN INDIA:




Reserve Bank of India (RBI) stats show that credit card and debit card usage, both in terms of
volume and value, has been steadily increasing over the past 4-5 years.
In the 2011 FY there were 265.1 million credit card transactions, which accounted for INR 755
billion, and 237.1 million debit card transactions, which were valued at INR 357 billion.
Also, there are more than 260 million debit and credit cards in circulation in India presently.
Electronic payments have been growing at 60% in India over the last three years. Add to that the
fact that India has been one of the fastest growing countries for payment cards or prepaid cash
cards in the Asia-Pacific region.







NO. OF DEBIT & CREDIT CARDS IN CIRCULATION



THE RESULTS OF THE SURVEY WHICH CONDUCTED ON CREDIT
CARDS






As per survey conducted by www.jagoinvestor.com on the top 6 credit cards various factors
along with their weight age is determined in this table. This table tells about how from various
factors it is determined which Banks credit card is favorable or not.






QUESTIONNAIRE
Respected Sir/Madam, I XXXXX, student of MBA of XXX Institution, assure you that the
details which are to be submitted below will be used only for the Academic Purpose as well as
for Research Work and will be kept confidential.
Thank You.
Q1. Do you have a debit/credit card:
a) Yes
b) No
[Fill the questionnaire only if answer to Q1 is yes]
Q2. Which banks card/debit card you use:
a) Axis bank e) other, please specify_______________
b) HDFC bank
c) State bank
d) ICICI bank
Q3. Do you buy or register online:
a) Yes
b) No
Answer Q4. only if said yes in above question:
Q4. For purchasing online, how do you make payment:
a) Cash on delivery
b) Online banking
c) Credit/debit card
d) Paypal
Q.No. YOUR PREFERENCE IN FOLLOWING CASES CASH CREDIT/DEBIT
CARD
5 For buying expensive electronic consumer goods from
shop do you make payment by

6 Out on holiday do you prefer taking
7 For filling the petrol you generally use
8 Out on lunch at a restaurant do you make payment by


Q9. While registering for exam, what do you prefer: (only for students)
a) Pay through online banking c) By depositing in bank
b) Credit/debit card
Q10. How frequently you withdraw cash from ATM card:
a) Once a week c) Once a fortnight
b) Twice a week d) Once a month
Q11. How long have you been using credit card/debit card:
a) Less than 6 months c) 2-4 years
b) 1-2 years d) More than 4 years
Q12. How often do you use credit/debit card in a month:
a) Once c) More than 4 times
b) 1-4 times
Q13. How frequently you pay back on the outstanding credit card balance:
a) 15 days
b) Once a month
c) Once a quarter
Q.
No
YOUR
SATISFACTION
LEVEL FOR
FOLLOWING
QUESTION
HIGHLY
SATISFIED
SATISFIED NEUTRAL DISSATISFIED HIGHLY
DISSATISFI
ED
14 Are you satisfied
with expenses/
charges charged on
your credit card

15 Are you satisfied
with gifts offered
on credit card
points

16 Are you satisfied
with long term
durability of the
credit/debit cards

17 Are you satisfied
with the credit limit
offered to you



PERSONAL INFORMATION
Name
Contact number
Gender of card user:
a) Male
b) Female
Age group of card user:
a) 20-35
b) 35-60



DATA ANALYSIS AND INTERPRETATION
Analysis & Interpretation of credit card users under Age Group of 20-35 & 35-60
Table 1: Analysis of number of Female respondents under both the age
groups.
(In Numbers):
Gender
Age Group: 20-35 Age Group: 35-60
Male Female Male Female
45 55 80 20


Fig 1: Percentage comparison of Female respondents
Analysis and Interpretation:
According to above Statistics there are more female card users under the age group 20-35 as
compared to the card user under age group of 35-60, where number of female card users is less
by %. But out of 200 respondents only 37.5% are female card users.
Male
45%
Female
55%
Gender of Credit Card
users (Age group: 20-
35)
Male
80%
Female
20%
Gender of Credit
Card users (Age
group: 35-60)

Table 2: Analysis of which Banks Credit/Debit card preferred under both the
age groups:
(In Numbers):
BANKS
Axis
bank
HDFC
bank
State
bank
ICICI
bank
Other
Age: 20-35 33 24 30 16 6
Age: 35-60 16 14 60 10 3


Fig 2: Graph presenting number of respondents preference of Banks
Credit/Debit card under both the age groups
Analysis and Interpretation:
According to the above statistics 33% & 30% respondents under age group 20-35 prefers axis
bank and state bank credit/debit card respectively as compared to other banks, 7 respondents of
which have credit/debit card of 2-3 banks. And 60% respondents under age group 35-60 prefers
state bank credit/debit card, 2 of these respondents have credit/debit card of 2-3 banks.
Other Banks include PNB, Bank of Baroda, J&K Bank, Indian overseas Bank, Union Bank.
33
24
30
16
6
16
14
60
10
3
Axis bank HDFC bank State bank ICICI bank Other
Which banks card/debit card used
Age: 20-35 Age: 35-60

Table 3: Analysis of preference of respondents for online buying or
registrations
(In Numbers):
Do you buy or register online
Age Group: 20-35 Age Group: 35-60
Yes No Yes No
75 25 75 25


Fig 3: Percentage of respondents preferring online buying and registration
under both age groups.

Analysis and Interpretation:
According to the above statistics under both the age groups 1/4
th
of the respondents do not prefer
buying or registering online.


Yes
75%
No
25%
Do you buy or register
online (Age Group: 35-
60)
Yes
75%
No
25%
Do you buy or
register online (Age
Group: 20-35)

Table 4: Analysis of payment method adopted by the respondents of both age
groups
(In Numbers):
For purchasing online, how do you make payment
Sources Cash on Delivery Online Banking Credit/Debit card Paypal N/A
Age: 20-35 29 21 34 3 21
Age: 35-60 18 25 32 3 25


Fig 4: Graphical presentation of payment modes adopted by the respondents
of both the age group.
Analysis and Interpretation:
According to the statistics the respondents who prefer buying or registering online under age
group 20-35 prefer credit/debit card (34%) followed by cash on delivery (29%), 8 of them prefer
more than one mode to make the payment for buying online . And the respondents under age
group 35-60 prefer credit/debit card (32%) followed by online banking (25%), 3 of them prefer
more than one mode to make the payment. Least preferred mode opted is PayPal (3%) by both
the age group respondents.

29
21
34
3
21
18
25
32
3
25
Cash on Delivery Online Banking Credit/Debit card Paypal N/A
For purchasing online, how is payment made
Age: 20-35 Age: 35-60

Table 5: Analysis of preference of payment mode for buying expensive goods
by respondents of both age groups:
(In Numbers):
Buying expensive electronic consumer goods
from shop
Cash Credit/Debit Card
Age: 20-35 73 28
Age: 35-60 69 31


Fig 5: Graphical representation of respondents preference for payment for
buying expensive goods
Analysis and Interpretation:
According to the statistics respondents under age group 20-35 & 35-60 prefer making payment
via cash 73% & 69% respectively for buying expensive consumer goods. But on comparing the
data of both the age groups, the respondents of age group 35-60 prefer card more than the
respondents of age group 20-35 by 10.73%.
CASH
CREDIT/DEBIT CARD
73
28
69
31
Preference for buying expensive electronic
consumer goods from shop
Age: 20-35 Age: 35-60

Table 6: Analysis of preference of taking Cash or Card for holiday by
respondents of both age groups:
(In Numbers):
Out On Holiday
Cash
Credit/Debit
Card
Age: 20-35 34 69
Age: 35-60 57 43


Fig 6: Graphical representation of respondents preference for taking Cash or
Card out on holiday
Analysis and Interpretation:
According to the statistics the respondents under age group 20-35 prefer carrying card (69%)
rather than cash as compared to respondents under age group 35-60 (43%) and 3 of them prefer
taking both. The respondents under age group 20-35 prefer taking card more than 35-60 age
group respondents by 60.46%.
CASH CREDIT/DEBIT CARD
34
69
57
43
Preference when out on holiday
Age: 20-35 Age: 35-60

Table 7: Analysis of preference of payment mode at petrol station on basis by
respondents of both age groups:
(In Numbers):
Filling The Petrol
Cash Credit/Debit Card
Age: 20-35 78 25
Age: 35-60 66 34


Fig 7: Graphical representation of respondents preference for payment at
petrol station of both age groups
Analysis and Interpretation:
According to the statistics the respondents of both the age groups prefer making payment via
cash at petrol station. But on comparing the data of both the age groups, the respondents of age
group 35-60 prefer card more than the respondents of age group 20-35 by 36%.
CASH
CREDIT/DEBIT CARD
78
25
66
34
Preference for filling the petrol
Age: 20-35 Age: 35-60

Table 8: Analysis of preference of payment mode at restaurants by
respondents of both age groups
(In Numbers):
Out On Lunch At A Restaurant
Cash Credit/Debit Card
Age: 20-35 62 44
Age: 35-60 84 16


Fig 8: Graphical representation of preference of payment mode at restaurants
by respondents of both age groups
Analysis and Interpretation:
According to the statistics the respondents of both the age groups prefer making payment via
cash at restaurants. But on comparing the data of both the age groups, the respondents of age
group 20-35 prefer card more than the respondents of age group 35-60 by 175%.
CASH CREDIT/DEBIT CARD
62
44
84
16
Preference when out on lunch at a
restaurant
Age: 20-35 Age: 35-60

Table 9: Analysis of preference of payment mode for exam registration by
respondents of both age groups
(In Numbers):
While registering for exam pay through
Online banking Card Deposit in bank N/A
Age: 20-35 15 35 45 5
Age: 35-60 4 20 8 68


Fig 9: Graphical representation of respondents preference for payment while
registering for exam of both age groups
Analysis and Interpretation:
Question was for students but was also filled by the respondents who registered for their family
members along with some students respondents. The respondents under age group 20-35
preferred making payment by depositing in bank where as respondents under age group 35-60
preferred via Card, and which exceeded the other group usage by 75%.
Online banking card Deposit in bank N/A
15
35
45
5
4
20
8
68
Preference while registering for exam pay through
Age: 20-35 Age: 35-60

Table 10: Analysis of frequency of cash withdrawn from ATM by respondents
of both age groups:
(In Numbers):
How frequently cash withdrawn from ATM
Once a week Twice a week Once a fortnight Once a month
Age: 20-35 20 33 16 31
Age: 35-60 27 41 18 14


Fig 10: Graphical presentation of frequency of cash withdrawn from ATM via
debit card by respondents of both age groups:
Analysis and Interpretation:
According to the statics maximum respondents under both the age groups prefer withdrawing
cash twice a week. The respondents under age group 35-60 withdraw 30.18% more cash via
debit card than respondents under age group 20-35 in one week.
Once a week
Twice a week
Once a fortnight
Once a month
20
33
16
31
27
41
18
14
How frequently cash withdrawn from ATM
Age: 35-60 Age: 20-35

Table 11: Analysis of period of Debit/Credit card usage by respondents of
both the age groups:
(In Numbers):
Period of Debit/Credit card usage
< 6 months 1-2 years 2-4 years >4years
Age: 20-35 14 38 26 22
Age: 35-60 16 30 32 22


Fig 11: Graphical presentation of period of Debit/Credit card usage by
respondents of both the age groups
Analysis and Interpretation:
According to the statics only 22% of respondents in both the age groups are using credit/debit
card for more than 2 years. 38% of respondents under age group 20-35 are using card for past 1-
2 years where as 32% of respondents under age group 35-60 are using card for past 2-4 years
which being the maximum percentage of respondents in their respective age groups.
Age: 20-35
Age: 35-60
< 6 months
1-2 years
2-4 years
>4years
14
38
26
22
16
30
32
22
Period of Debit/Credit card usage
Age: 20-35 Age: 35-60

Table 12: Analysis of frequency of card used within one month by the
respondents of both the age groups:
(In Numbers):
How often card used in a month
Once 1-4 times >4 times
Age: 20-35 35 46 19
Age: 35-60 28 39 33


Fig 12: Graphical presentation of frequency of card used within one month by
the respondents of both the age groups
Analysis and Interpretation:
According to the statics the respondents under age group 20-35 use card 1-4 times in a month
and the respondents under the age group 35-60 use card more than 4 times in a month which is
73.68% more than the respondents under age group 20-35.
Once
1-4 times
>4 times
35
46
19
28
39
33
How often card used in a month
Age: 35-60 Age: 20-35

Table 13: Analysis of Frequency of payment on the outstanding credit card
balance by the respondents of both the age groups:
(In Numbers):
Frequency of payment on the outstanding credit card balance
15days Once a month Once a quarter N/A
Age: 20-35 26 51 15 8
Age: 35-60 18 39 38 5

Fig 13: Graphical presentation of Frequency of payment on the outstanding
credit card balance by the respondents of both the age groups:
Analysis and Interpretation:
According to the statics 8% & 5% of the respondents under the age group 20-35 & 35-60
respectively do not use credit card. Most of the respondents under both the age group makes
payment on their outstanding credit card balance once a month, 35-60 age group respondents
making payment once in month are more than 20-35 age group respondents by 30.76%
Age: 20-35
Age: 35-60
15days
Once a month
Once a quarter
N/A
26
51
15
8
18
39
38
5
Frequency of payment on the outstanding
credit card balance
Age: 20-35 Age: 35-60

Table 14: Analysis of satisfaction level of the respondents under both the age
group with expenses/ charges charged on credit card
(In Numbers):
Are you satisfied with expenses/ charges charged on your credit card
Highly Satisfied Satisfied Neutral Dissatisfied Highly Dissatisfied
Age: 20-35 15 41 36 0 0
Age: 35-60 7 32 45 8 3


Fig 14: Graphical presentation of satisfaction level of the respondents under
both the age group with expenses/ charges charged on credit card
Analysis and Interpretation:
According to the statics 45% respondents under age group 35-60 showed neutral response
toward credit card expenses charged on their credit card. Whereas 41% respondents under age
group 20-35 are satisfied by such expenses on credit card.

Highly Satisfied Satisfied Neutral Dissatisfied Highly
Dissatisfied
15
41
36
0 0
7
32
45
8
3
Satisfaction level with expenses/ charges
charged on credit card
Age: 20-35 Age: 35-60

Table 15: Analysis of satisfaction level of the respondents under both the age
group with gifts offered on credit card points
(In Numbers):
Are you satisfied with gifts offered on credit card points
Highly Satisfied Satisfied Neutral Dissatisfied Highly Dissatisfied
Age: 20-35 16 38 30 7 1
Age: 35-60 4 31 44 12 4


Fig 15: Graphical presentation of satisfaction level of the respondents under
both the age group
Analysis and Interpretation:
According to the statics 44% respondents under age group 35-60 showed neutral response
toward credit card expenses charged on their credit card where as 38% respondents under age
group 20-35 are satisfied by such expenses on credit card.
Highly Satisfied Satisfied Neutral Dissatisfied Highly
Dissatisfied
16
38
30
7
1
4
31
44
12
4
Satisfaction level with gifts offered on credit
card points
Age: 20-35 Age: 35-60

Table 16: Analysis of satisfaction level of the respondents under both the age
group
(In Numbers):
Are you satisfied with long term durability of the credit/debit cards
Highly Satisfied Satisfied Neutral Dissatisfied Highly Dissatisfied
Age: 20-35 25 50 25 0 0
Age: 35-60 19 37 28 12 4


Fig 16: Graphical presentation of satisfaction level of the respondents under
both the age group
Analysis and Interpretation:
According to the statics 37% respondents under age group 35-60 are satisfied with credit card
expenses charged on their credit card where as 50% respondents under age group 20-35 are
satisfied by such expenses on credit card.

Highly Satisfied Satisfied Neutral Dissatisfied Highly
Dissatisfied
25
50
25
0 0
19
37
28
12
4
Satisfaction level with long term durability of
the credit/debit cards
Age: 20-35 Age: 35-60

Table 17: Analysis of satisfaction level of the respondents under both the age
group
(In Numbers):
Are you satisfied with the credit limit offered to you
Highly Satisfied Satisfied Neutral Dissatisfied Highly Dissatisfied
Age: 20-35 16 43 29 4 0
Age: 35-60 23 34 25 10 3


Fig 17: Graphical presentation of satisfaction level of the respondents under
both the age group
Analysis and Interpretation:
According to the statics 34% respondents under age group 35-60 are satisfied with credit card
expenses charged on their credit card where as 43% respondents under age group 20-35 are
satisfied by such expenses on credit card.
Highly Satisfied Satisfied Neutral Dissatisfied Highly
Dissatisfied
16
43
29
4
0
23
34
25
10
3
Satisfaction level with the credit limit offered
Age: 20-35 Age: 35-60

RESULTS AND FINDINGS
Out of 200 respondents only 37.5% are female card users.
State bank credit/debit card preferred by both age group respondents.
1/4
th
of the respondents do not prefer buying or registering online.
Both prefer credit/debit card to make the payment for buying online.
Respondents under age group 20-35 & 35-60 prefer making payment via cash
for buying expensive goods.
The respondents under age group 20-35 prefer taking card more than 35-60 age
group respondents by 60.46% out on holiday.
The respondents of age group 35-60 prefer card more than the
respondents of age group 20-35 by 36% for payment at petrol station.
The respondents of age group 20-35 prefer card more than the respondents of
age group 35-60 by 175% at restaurants.
Respondents under age group 35-60 preferred via card, and which exceeded the
other group usage by 75% for payment while registering for exam.
The respondents under age group 35-60 withdraw 30.18% more cash via debit
card than respondents under age group 20-35 in one week.
Debit/credit card used by respondents of both the age groups for period of over 2
year.
35-60 use card more than 4 times in a month which is 73.68% more than the
respondents under age group 20-35.
35-60 age group respondents making payment once in month are more than 20-
35 age group respondents by 30.76%.
Maximum respondents under both age groups are satisfied with long term
durability of the credit/debit cards.

Maximum respondents under both age groups are satisfied with the credit limit
offered.
Maximum respondents under 20-35 age groups are satisfied with gifts offered on
credit card points, where as maximum respondents under 35-60 age groups were
neutral.
Maximum respondents under 20-35 age groups are satisfied with expenses/
charges charged on credit card, where as maximum respondents under 35-60 age
groups were neutral.













SUGGESTIONS

As only 37.5% of 200 respondents are female card users, so to increase its
customer base among female card users they should bring out different schemes.
As most of the shopping is done by females.
As 1/4
th
of the respondents do not prefer buying or registering online, various
offers & discounts should be offered online on various goods & service online as
E-commerce is on rise in present scenario.
As respondents under age group 20-35 & 35-60 prefer making payment via cash
for buying expensive goods, these goods can be given through installments via
credit/debit card.
The credit limit offered on the credit card must be increased on timely basis
depending on customer spending so as to keep them satisfied.
People must be made aware about the credit points and gifts offered on them,
which make them use more and more of credit cards to avail these points.
Awareness about security linked with credit card must also be made to the
customers so that they have more confidence in credit card usage.