Consumer Use of Multiple Payment Methods

Oz Shy

No 2019-19, FRB Atlanta Working Paper from Federal Reserve Bank of Atlanta

Abstract: The paper investigates the degree to which buyers choose to diversify their use of payment methods for in-person purchases. Some buyers use only one payment instrument. Others combine the use of mostly cash, credit, debit cards, and a few paper checks and prepaid cards. To each survey respondent, I apply three concentration measures over the use of payment instruments. Results show that the degree of consumers' payment concentration exhibits almost no correlation with consumer demographics, payment volume, or aggregate value.

Keywords: multiple payment methods; consumer payment choice; payment instruments; in-person purchases; concentration measures (search for similar items in EconPapers)
JEL-codes: D9 E42 (search for similar items in EconPapers)
Pages: 18 pages
Date: 2019-10-01
New Economics Papers: this item is included in nep-mic, nep-ore and nep-pay
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.frbatlanta.org/-/media/documents/resea ... -payment-methods.pdf Full text (application/pdf)

Related works:
Journal Article: Consumer Use of Multiple Payment Methods (2021)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedawp:2019-19

Ordering information: This working paper can be ordered from

DOI: 10.29338/wp2019-19

Access Statistics for this paper

More papers in FRB Atlanta Working Paper from Federal Reserve Bank of Atlanta Contact information at EDIRC.
Bibliographic data for series maintained by Rob Sarwark ().