Cash or Card? Unravelling the Role of Socio-Psychological Factors

Carin Cruijsen and Frank Horst ()
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Frank Horst: De Nederlandsche Bank

De Economist, 2019, vol. 167, issue 2, No 3, 145-175

Abstract: Abstract We build a model of consumers’ payment behaviour that includes socio-psychological factors and test it empirically by focussing on the choice between cash and electronic payments in the Netherlands. Our model outperforms the traditional model used to explain payment usage. Moreover, we provide useful insights for those who want to understand and steer payment behaviour. How consumers actually pay mainly depends on how they intend to pay and their payment habits. Attitudes, feelings and perceived best-suited payment behaviour are key factors related to payment intentions. Social norms and perceived control over the payment instrument choice matter too.

Keywords: Payment choice; Socio-psychological factors; Consumer survey; Cash; Cards (search for similar items in EconPapers)
JEL-codes: D11 D12 D14 E58 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (14)

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DOI: 10.1007/s10645-019-09340-2

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