Can cash and mobile pay co-exist? What the data tell us

Kevin Foster, Claire Greene and Joanna Stavins
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Kevin Foster: Federal Reserve Bank of Atlanta, USA
Claire Greene: Federal Reserve Bank of Atlanta, USA

Journal of Payments Strategy & Systems, 2024, vol. 18, issue 3, 309-318

Abstract: As US consumers increasingly turn to multiple financial institutions, multiple FinTech providers and multiple payment apps, getting a full picture of the consumer’s wallet is rare. Drawing on data collected through the Survey and Diary of Consumer Payment Choice — a representative survey of US consumers conducted since 2008 — this paper provides insights into US consumers’ adoption of bank accounts and payment instruments, their recent use of payment instruments, their payment choices for purchases and bills, and the evolution in their practices over the last decade of innovation in payments.

Keywords: mobile payments; cash; consumer data; consumer behaviour; card data; payment apps (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jpss00:y:2024:v:18:i:3:p:309-318

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