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The 2013 Survey of Consumer Payment Choice: summary results

Scott Schuh () and Joanna Stavins ()

No 15-4, Research Data Report from Federal Reserve Bank of Boston

Abstract: This report presents key findings from the 2013 Survey of Consumer Payment Choice. In 2013, the average number of consumer payments per month did not change significantly from the average number in 2012. The number of check payments continued to decline, and although the number of noncheck payments increased to offset the decline in checks, the number of transactions conducted with each noncheck payment instrument type did not change significantly in 2013 for any single instrument type. Thus, the shares of payments made with each of the major instrument types did not change significantly. Debit cards and cash continued to account for the two largest shares of consumer payments in 2013 (31.1 and 26.3 percent, respectively), and the credit card share reached 22.5 percent. Adoption of mobile banking and the number of mobile payments increased significantly over 2012, with almost half of consumers having access to mobile banking in 2013, and over a third reporting that they had used mobile payments during the year.

JEL-codes: D14 E42 D12 (search for similar items in EconPapers)
Pages: 128 pages
Date: 2015-07-27
New Economics Papers: this item is included in nep-mac
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Handle: RePEc:fip:fedbdr:15-4