Ctrl+C Ctrl+Pay: Do People Mirror Electronic Payment Behavior of their Peers?

Carin Cruijsen and Joris Knoben

Journal of Financial Services Research, 2021, vol. 59, issue 1, No 3, 69-96

Abstract: Abstract Little is known about how the social environment influences payment behavior. Using detailed payment diary data of Dutch consumers we show that payment behavior is likely influenced by peer effects, especially when the environment is characterized by strong social cohesion. The results imply that besides traditional policy interventions such as consumer education, lowering costs, and enhancing the convenience of using electronic payments, diffusion and transmission of norms through social channels can enhance the adoption of electronic payments.

Keywords: Payment diaries; Payment behavior; Peer effects; Consumer survey; Cash; Cards; A14; D12; D14; E42; E58; Z13 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (10)

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DOI: 10.1007/s10693-020-00345-6

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