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General Business Articles

History and Development of Currency Options and Futures

Options and Futures have been a feature of trade since ancient times. Futures and options have been around as long as there has been commerce, because commerce involves risk. In the last two decades or so, such risks have grown almost exponentially, and these volatile trading conditions have created substantial growth in the use of futures and options. In the global integration; the use of Futures and Options products has changed the financial world.

Futures and Options are used to manage external business risks. It is therefore interesting to note that the phenomenal growth in their use coincided with the collapse of Bretton Woods fixed exchange rate regime and the suspension of the dollar’s convertibility into gold.… Read the rest

Abey Francis

Deciding on the Right Credit Card

How much is the joining fee and the annual fee?

Generally, a credit card with a higher annual fee enjoys more benefits like higher credit limit, higher accident insurance cover, accessibility to airport lounges, travel discounts etc. OF at least the used to be the case. With cutthroat competition between the card issuing banks, players are ready to waive joining fees and also one-year membership fees for anyone. Grab these offers, or negotiate this for yourself.

How much is the Add-on card fee?

If you are interested in buying add-on cards for your children, spouse or friend, ask for the add-on card fee.… Read the rest

Abey Francis

Credit Card Industry in India

The credit card industry in India has registered an encouraging growth in recent times, but the usage pattern of credit cards remains a point of concern, those in the industry say. Seven years back, India had a base of around five lakh credit cards. There has been a seven-fold increase, with the number of cardholders touching over 38 lakh. These figures point towards the fact that the credit card industry in India is growing at a brisk annual rate of 30 per cent and is expected to grow at a similar rate in the coming years. This fortifies the view that conservative purchasing ideas are giving way to the big in-thing.… Read the rest

Abey Francis

What Is Plastic Money?

A plastic money card is a thin card that contains identification information such as a signature or picture, and authorizes the card holder to charge purchases or services to the card holder’s account. Today, the information on the card is read by automated teller machines (ATMs), banks, and the internet.

It all started in the 1920s, when individual companies (such as oil companies and hotels) issued these “plastic money cards” for purchases made at their businesses. However, these cards could not be used outside of the company.

In the 1950s a “universal card” was introduced by Diners Club, INC.… Read the rest

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Case Study: MasterCard’s Business Model

What is MasterCard?

But what does MasterCard exactly do? It provides credit, debit, and prepaid cards from over 25,000 financial institutions. However, MasterCard is primarily a credit card company and specializes in the innovation of these cards throughout the world. It is a also a payment solutions company and through its three tiered business model as franchisor, processor and adviser, the company has developed a new world for its card holders and merchants. The company provides marketing, approval, and transaction services for a variety of payment products in more than 210 countries and territories.

Regardless of the type of card, all of them act under the “four-party” payment system.… Read the rest

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Current Situation of Credit Card Business

The previous (current) financial crisis has severe effects on the business of companies in the credit card business. For a long time, the credit card business has been regarded as one of the most profitable businesses in the financial services industry. MasterCard was one of the most successful companies with its business model differing in one important point from its competitors. Most of the companies in the credit card business issue their cards on their own (including market leader American Express), whereas MasterCard and its main competitor VISA operate through a franchise system which allows its partners (banks) to issue cards of MasterCard.… Read the rest

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