The Benefits of Moving Toward a Cashless Society with Plastic Cards
Plastic cards are one of the most widely used form of payment in the world. They are small, Easy to carry, and can be used in virtually any location. Whether you're shopping online or going out to eat, plastic cards are the first choice for many people. This article will explore their uses, advantages and disadvantages, and best practices for using them.
Plastic cards are typically used for one of two purposes: making payments or obtaining access to other services. The most common feature of plastic cards is embedded magnetic strips which store financial information. This allows you to securely make payments to merchants, either online, over the telephone or in person. Plastic cards can also store other types of information, such as access codes to buildings or services.
The main benefit of plastic cards is convenience. They are small and slim, so they can fit into a purse or wallet easily. You can use them to make payments quickly and securely without needing to bring cash or sign a receipt. They can also be used for access control, allowing you to get into a building or service quickly and easily.
- Convenient and secure form of payment
- Supports access control
- Easily carried
- Can use for online payments and transactions
- Can be lost or stolen
- Susceptible to fraud or misuse
- Must monitor account balance
Case 1: A traditional retailer implemented a loyalty program that used plastic cards. The cards were used to track customer purchases, and customers were rewarded with discounts and other rewards based on their spending. The retailer was able to increase their sales and customer loyalty.
Case 2: A hotel implemented plastic cards for access control. Guests were given a plastic card upon check in and it provided them with access to the hotel and their room. The plastic card system was efficient and cost effective for the hotel and resulted in improved security.
What types of information are stored on plastic cards?
The information stored on plastic cards varies but typically includes financial information, such as credit and debit card numbers, as well as access codes to services such as buildings or loyalty programs.
Are plastic cards secure?
Yes, plastic cards are generally secure. The magnetic strips are encrypted and it is very difficult to copy or counterfeit them.
Can plastic cards be used online?
Yes, plastic cards can be used for online payments and transactions. Just use the card number and the accompanying security code when prompted.
Mistakes People Make
- Using the card carelessly or without caution.
- Not checking their account balance regularly.
- Not securely storing their card.
- Sharing their card information with others.
- Not shredding expired cards.
- Protect your card. Make sure to store it securely and do not share your card information with anyone.
- Monitor your account balance. Always make sure you know what's going on with your account and stay on top of any charges or transactions.
- Destroy expired cards. Make sure to shred expired cards so that no one else can use them.
- Be aware of your surroundings. If you are using a public terminal or computer, be sure to keep an eye on your card and don't leave it unattended.
- Be wary of online purchases. Avoid making purchases on unfamiliar websites and always check that the website URL begins with 'https' to signify it is secure.
Plastic cards are a convenient and secure way to make payments or obtain access to services. They are easy to carry and can be used in any location, but they can also be easily lost or stolen. As long as you practice good security habits, you can safely and easily use plastic cards for all of your needs.