What is Plastic money?

Plastic money refers to the use of instruments like credit cards instead of cash in business transactions. It is called plastic money because credit cards are made of plastic. At present currency notes, cheques made of paper or coins are used to make payments after a purchase. Credit cards can also be used to withdraw cash from automatic teller machines. Some credit cards are used exclusively for paying call charges in public telephone booths. Plastic money also carries information about its holder in coded form which makes it theft-proof. No one, but the holder is able to use the card.