A DETAILED STUDY ON DEBIT CARDS AND USAGE OF VARIOUS DEBIT CARDS IN CHENNAI CITY

Abstract

Necessity is the mother of all inventions. The term “Necessity” has created a drastic change among people’s life in this world. This has led to improvements in technology, which has incorporated into other sectors which includes banking as well. This incorporation has led to replacements of hard cash in to cashless society in terms of safety and usage. This study mainly focuses on history and details of debit cards, various types of debit cards and the satisfaction level among consumers in using debit cards in Chennai city. This article also suggests different ideas to the banking sectors on how the debit card usage among people can be increased in day-to-day life. Also similar to credit cards a new option called EMI (Equated Monthly Installment) has been enabled on certain debit cards which has also been covered in this study.