Consumer Use of Multiple Payment Methods
نویسندگان
چکیده
This article investigates the degree to which buyers choose diversify their use of payment methods for in-person purchases. Some only one instrument. Others combine mostly cash, credit, and debit cards, a few paper checks prepaid cards. To each survey respondent, I apply three concentration inequality measures over instruments. Results show that average median consumers’ slightly decline with volume exhibit almost no correlation consumer demographics.
منابع مشابه
Effect of Consumer Characteristics on the Use of Payment Instruments
E ven though predictions about a cashless and checkless society have been made for many years, retail payment transactions made with electronic payment instruments still constitute only a small fraction of all payments made in the United States. 1 The rate of growth of electronic payments is estimated to exceed that of paper checks, but the number of checks written still increases each year, an...
متن کاملConsumer Payment Choice: Measurement Topics
What are the determinants of consumer choice over payment mechanisms? The answer to this question is important for a variety of reasons. Every government has the responsibility of supporting an efficient and effective payment system. Doing so is an explicit mandate of the Federal Reserve Bank in the United States. In addition, nothing is more central to private sector commerce than collecting p...
متن کاملPayment Card Rewards Programs and Consumer Payment Choice
By using a unique data set that contains detailed information on consumer perceived attributes of payment methods and consumer perceived acceptance of payment methods by merchants, we estimate the direct effects of rewards card programs on consumer payment choice for in-store transactions. Our estimation approach, which follows Harris and Keane [1999], allows us to alleviate the endogeneity pro...
متن کاملPayment Choice with Consumer Panel Data
We exploit scanner data to track payment choice for grocery purchases for a large panel of households over three years. We show that households focus most of their expenditures on one or at most two of these instruments in choosing between using cash, a check, or a card, and they very rarely switch. We focus particularly on the role of expenditure size in determining payment choice. While the u...
متن کاملMaintaining consumer confidence in electronic payment mechanisms
Credit card fraud is already a significant factor inhibiting consumer confidence in ecommerce. As more advanced payment systems become common, what legal and technological mechanisms are required to ensure that fraud does not do long-term damage to consumers' willingness to use electronic payment mechanisms?
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Review of Industrial Organization
سال: 2021
ISSN: ['1573-7160', '0889-938X']
DOI: https://doi.org/10.1007/s11151-020-09803-w