What is Plastic Money & its Benefits

Date: 30th November 2024 | Read time: 3 Minutes

As India inched closer to becoming a cashless economy, digital and contactless payments were gaining significant momentum. The aspect was significantly covered with "plastic money," especially in the form of debit cards. A debit card is used to manage expenses, pay bills while enjoying benefits all with cash within arm's reach without carrying it on one's person. Here's a description of what plastic money is and why debit cards are a necessity in our daily life.

Plastic Money Payment refers to payment methods made using plastic cards, such as debit and credit cards.

Debit cards give you access to funds in a bank account electronically, so no longer do you have to carry that money around with you; it is convenient and secure. You can shop, pay your bills, withdraw cash from ATMs, and enjoy such benefits as rewards and discounts, alongside some exclusive privileges tailored to your lifestyle and spending habits.

Welcome to easy initiation in cashless transactions without the hassle of requiring exact change or physical notes at the time of payment. AU Small Finance Bank gives you a variety of debit cards for your needs, from frequent travellers to a business professional, or even shopping without any hassles. Let's see how debit cards enhance your daily transactions and lifestyle.

1. Convenience:

With debit cards, you can have easy and instant access to funds online or while shopping at physical stores. You will not be required to carry large amounts of cash-all that you would be needed is your card for a quick payment or even a cash withdrawal from any of the thousand’s ATMs across the world.

2. Safety and Accountability:

AU Small Finance Bank debit cards offer safety with a guarantee. In case you lose, or have it stolen, you can block the card instantly using the AU 0101 App or website or get it done directly by calling the customer care number. Instant blocking reduces scopes of unauthorized transactions, while card liability cover and purchase protection give peace of mind.

3. Rewards, Discounts, and Privileges:

With an AU debit card, one has rights to exclusive discounts and rewards that encompass shopping, travel, healthcare, and so much more. For example, the AU Royale Debit Card boasts of minimal cross-currency markups, and lounge access—the gold for frequent flyers who appreciate such convenience and luxury.

4. Contactless payments:

The contactless debit cards of AU, such as Visa Platinum and the AU Royale Debit Card, allow one to make "tap-and-go" transactions, thus making the payments quicker and more hygienic. These are of great use in impulse buys and, above all, make your life easy when you are on the go.

5.  tracking and managing expenses:

Debit cards automatically track your spending, thus enabling you to view them, manage them, and thus avoid spending too much money. You can monitor transactions closely using the AU 0101 App. You can readily set different limits regarding spending and stay on budget-wallet-money directly from hand compared to cash-based spending.

6.Product Specific Debit Cards for Specific Activities:

AU Small Finance Bank offers various debit cards, categorized based on usage. For instance, there is the AU Royale Business Debit Card, which offers high limit withdrawal, low cross-currency mark-up, insurance cover and many more just for the professionals in business lines.

7. Insurance and Protection Benefits:

AU debit cards have robust insurance facilities and air accident insurance, card liability cover, purchase protection. Some cards are also covered for insurance up to INR 1 crore; hence, it is safe to make transactions with the help of debit cards while dealing with those situations that might arise by chance.

Why choose AU Small Finance Bank Debit Cards? AU Small Finance Bank offers a diverse range of debit cards according to the requirement of the customer.

• AU Royale World Debit Card: for Non-Resident Indians only, with a high withdrawal limit and global privileges.
• Visa Business Gold Debit Card: best for small business because of the high daily transaction limits and purchase protection.
• Mastercard Platinum Debit Card: it comes with the #Swipe&Save, which provides lucrative offers on shopping, online purchases, car services, and various other categories.

Not only cashless transactions, but these cards also come with customized conveniences to make life easier and richer by saving your time and adding more fun to your banking experience.

Debit card, the plastic money, has changed the way people think about money management. It offers comfort, security, and added incentives all together. Whether you are shopping online, paying bills, or doing quick purchases, debit cards have become a reliable companion in daily life. AU Small Finance Bank offers you a variety of debit cards to fulfil your every requirement on your road to a cashless contactless world. So, choose your ideal AU debit card today and feel the plastic money.