Explaining Adoption and Use of Payment Instruments by U.S. Consumers
نویسندگان
چکیده
منابع مشابه
Explaining Adoption and Use of Payment Instruments by U.S. Consumers
The way that consumers make payments is changing rapidly and attracts important current policy interest. This paper develops and estimates a structural model of adoption and use of payment instruments by U.S. consumers. We utilize a cross-section from the Survey of Consumer Payment Choice, a new survey of consumer behavior. We evaluate substitution and income effects. Our simulations shed light...
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E ven though predictions about a cashless and checkless society have been made for many years, retail payment transactions made with electronic payment instruments still constitute only a small fraction of all payments made in the United States. 1 The rate of growth of electronic payments is estimated to exceed that of paper checks, but the number of checks written still increases each year, an...
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Alternative payment instruments are studied in an economy with private information, delayed communication, and limited commitment. Attention is restricted to checks and bank drafts, which differ in resource cost and communication characteristics. Checks are less costly but settlement delays create a limited commitment constraint. We Þnd that drafts dominate at low wealths and checks at higher w...
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The business of payments and the provision of payment instruments have a rich history, which can be drawn upon in a discussion of standardization. In the middle-ages, for example, the mere existence of a wide variety of foreign and local coins led to a flourishing business of money exchange offices and cashiers in the Netherlands. Malpractices of some of these firms, mostly in the form of physi...
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In the U.S., the share of payments made “electronically” – with credit cards, debit cards and direct payments – grew from 25 percent in 1995 to over 50 percent in 2002 (BIS, 2004). This paper frames this aggregate change in the context of individual behavior. Family level data indicate that the share of families using or holding these instruments also increased over the same period. The persona...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2012
ISSN: 1556-5068
DOI: 10.2139/ssrn.2564176