TITLE:
The Benefits of Use of Plastic Money in Greece and the EU: Case Study of Use of Plastic Money from the Elderly
AUTHORS:
Liargovas Panagiotis, Anastasiou Athanasios, Komninos Dimitrios, Dermatis Zacharias, Kalamara Eleni
KEYWORDS:
Debit Card, Credit Card, Plastic Money, Old Age, Transactions, Financial Institutions
JOURNAL NAME:
Theoretical Economics Letters,
Vol.8 No.5,
March
27,
2018
ABSTRACT: Plastic money is a very recent context replacing the
traditional concept of paying though cash. Plastic money is a term coined
keeping in view the increasing number of transactions taking place on the part
of consumer for paying for transactions incurred by them to purchase goods and
services physically and virtually. It includes credit cards, debit cards,
pre-paid balance cards, smart cards etc. This research is typically focusing
only on the use of debit cards from the elderly in order to find out the
effectiveness of such cards in real life and consumers perceive them. It also
presents the use of electronic wallet. Is electronic wallet helpful in every
day’s transactions? Can old age people find it helpful in using it? Electronic
wallet accepts debit cards that are connected with the banking account which
has been declared by elderly in the financial institution. It allows an
individual person to purchase something at a store and enables unforgeable
transactions with other wallets.