Shopping is now on the cards!

Cash does not buy everything you wish, but a card does! To great extent cash transactions are being replaced by shopping with cards. Retailers today are recording greater sale figures because of the rising usage of plastic money.
Retail-Business-Practice

The growth and popularity of plastic money in India has been phenomenal in the last few years. Gone are the days, when if you had to purchase a high-end product, you had to think twice about the cash to be arranged to make the purchase. Now a single card pays for it all. All that your heart desires can be bought on a Credit or a Debit Card with just a swipe!  

Glory to retailers
The introduction of credit card facilities to pay for mobile, movie tickets, clothes, jewellery and just about any transactions that we can think of has contributed to the growth of plastic money in the country. The Indian market is not driven by a style proclamation but by convenience and that is an aspect that retailers have adhered to very closely. The increasing consumerism in the country has led to a two-fold increase in the number of credit card transactions being made across retail. Retailers are also seeing an upswing in the sales of high-end products as people find it easier to pay with a card than paying a lump-some cash amount.  

Benefit for customers
The customers are in a win-win situation. Now they do not have to carry around a huge amount of cash with them for shopping, debit and credit cards come in handy. Customers have the benefit of buying now and paying later which gives them enough time to plan the payments on the card. Youngsters find it easier to make card payments rather than carrying too much cash. There was a time when one had to buy foreign currency when they were planning a trip abroad for their shopping and other needs. Now all they need is their card. The relevance of cards is growing because of the level of convenience which it brings to them.  

Bank offerings 
Banks now are also making efforts and increasing the number of card holders with them. With the rising level of competition among banks, each of them are working on lowering of interest rates while putting lucrative offers for customers across the table. This particular aspect acts as a catalyst for retailers and customers. The use of credit cards also helps to build the economy in terms of the interest rates you are paid back on the cards.  

Precautions
Though the usage of cards boasts to have led to an increase in sales, they need to be handled with care. Fraud is one of the greatest concerns when using cards especially when carrying out an online transaction. While doing e-shopping, one should shop only with the merchant that is trust worthy. Paypal is one of the easiest and safest modes to pay and it has a tie up with a lot of retailers. 

However, while shopping at a brick and mortar store, make sure you check the amount on the slip before you sign and also save the transaction slips so that you can verify the transaction with your account statements. In case your card is lost, report it immediately and get your card blocked.  

Sum Up
The use of credit cards has become an important aspect for a retailer and a shopper and with each passing day it is difficult to imagine a customer economy functioning without them.
 

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