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Payment Instruments as Perceived by Consumers - a Public Survey

Nicole Jonker

DNB Working Papers from Netherlands Central Bank, Research Department

Abstract: Survey results show that Dutch consumers perceive paying in cash as an inexpensive way to pay, while they regard electronic payment cards as relatively expensive. This finding partly explains the low usage of electronic payment cards in point-of-sale (POS) payments. The survey also highlights several non-price features that contribute to the unpopularity of electronic payment cards. The objective of the survey was to identify price and non-price features of payment instruments that can be used to stimulate the use of electronic payment cards. Their attractiveness can be increased, through 1) technological modifications to e-purses and debit cards that enhance their convenience, 2) by increasing the number of acceptance points and 3) by drawing public attention to the speed of e-purse payments. Making it more expensive for consumers to pay in cash could also increase the usage of electronic payment instruments.

Keywords: household survey; cost efficiency; retail payments; payment instruments; nonprice features (search for similar items in EconPapers)
JEL-codes: D12 D61 G20 (search for similar items in EconPapers)
Date: 2005-09
New Economics Papers: this item is included in nep-fin
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