Problems and Prospects of Credit Card and Debit Card Holders in Nanded City

Doctoral Thesis / Dissertation from the year 2013 in the subject Economics - Finance, grade: A, , course: Ph.D, language: English, abstract: The payment cards business has become increasingly popular in India, thereby providing considerable scope for further expansions as an extension of banking service to its customer. Hence the study attempts to find the spending pattern, behavior and satisfaction of the credit card and debit card holders. The study was also trace out the problems faced by the credit card and debit card holders while using the Cards.

The introduction of payment cards by banks all over the world is considered as a major step, and as such the card has become a way of life in advanced countries. It is also fast catching up fasts in developing countries like India. During 1914, a number of oil companies issued the first payment card to their customer for the purchase of gasoline, oil and accessories at the company¿s stations. Therefore, local departmental stores, railways companies also started issuing payment cards. The Franklin national bank of New York was introduced in 1951. It is the first banks in the US to adopt a credit card plan around 1958.In the early stages its growth was very slow in terms of member and values. However, in the recent past the scenario has changed dramatically.

Georgios Papadopoulos1, EIPE (2001), the revolution in information and communication technologies facilitated the expansion of the electronic payment systems and the organization of new types of payment instruments. Communications became not only faster, easier and safer but also considerably cheaper. Much more efficient fund transfers systems emerged and as a result direct debits and credit transfers expanded considerably. Cards payments have been developing by providing added value services to consumers that rely on application of novel network technologies. Electronic money, the latest offspring of the electronic revolution in payment, is introduced for the facilitation of ecommerce and for low value transactions in general. This is considered of great importance for limiting the use of cash and it has been suggested that it could lay the foundations for a cashless society.