 Technology adoption and consumer payments: evidence from survey dataFumiko Hayashi and Elizabeth Klee No PSR WP 02-01, Payments System Research Working Paper from Federal Reserve Bank of Kansas City Abstract: Consumers pay for hundreds of goods and services each year, but across households and across goods, consumers do not choose to pay the same way. This paper posits that these differences depend in part on consumers' propensity to adopt new technologies, and depend in part on the nature of the transaction. In order to test these hypotheses, this paper offers comparisons of payment instrument use at the point of sale and for bill payment from a sample of consumers surveyed in 2001, drawn primarily from users of the Internet. The results indicate that consumers who use technology or computers are more likely to use electronic forms of payment. In addition, use of direct deposit is a significant predictor of use of electronic payments. Furthermore, payment choice depends on the characteristics of the transaction. By analyzing these hypotheses together, consumer payment choice may lend insight into consumer technology adoption behavior more generally. Keywords: Consumers; Technology (search for similar items in EconPapers) Published in Review of Network Economics, Vol. 2, no. 2 - June 2003 There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:fip:fedkpw:psrwp02-01 Ordering information: This working paper can be ordered from Access Statistics for this paper More papers in Payments System Research Working Paper from Federal Reserve Bank of Kansas City Contact information at EDIRC. |
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