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  1. Payments evolution from paper to electronic payments by merchant type
    Author: Cohen, Ruth; Shy, Oz; Stavins, Joanna
    Published: [2022]
    Publisher:  [Federal Reserve Bank of Boston], [Boston]

    The use of paper instruments-cash and checks-has been declining in the United States, and consumers have been gradually replacing paper with cards and electronic payments. Stavins (2021) examines the evolution of payments from paper to cards and... more

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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 82
    Inter-library loan:
    No inter-library loan

     

    The use of paper instruments-cash and checks-has been declining in the United States, and consumers have been gradually replacing paper with cards and electronic payments. Stavins (2021) examines the evolution of payments from paper to cards and electronic payments, while Shy (2020) shows the payments landscape across merchant types. This paper combines the cross-sectional analysis across merchants with the aggregate time series study to analyze the evolution of consumer payments by merchant type. Using data from a representative diary survey of US consumers collected annually over the past several years, we examine changes for each merchant type to assess which transactions shifted from paper to electronic payments and from in-person to remote transactions. We find that cash use declined faster than check use, in large part because transactions shifted from in person to remote. While the cash-use share of transactions dropped for almost all merchant types, changes in check use were much more heterogenous across merchants. COVID-19 accelerated the payments evolution away from cash for some merchant types, as their drop in cash payments was much larger during the pandemic than prior to it. Merchants whose transactions are typically conducted in person experienced the largest decline in cash payments during the pandemic. Regression results show that the probability of using either cash or checks declined significantly in 2019 and 2020, even after controlling for merchant types, the dollar value of transactions, and consumers' socio-demographic attributes.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/273027
    Edition: This version: February 2022
    Series: Working papers / Federal Reserve Bank of Boston ; no. 22, 6
    Subjects: consumer payments; merchant category; cash; check; cards; electronic payments
    Scope: 1 Online-Ressource (circa 39 Seiten), Illustrationen
  2. Payments evolution from paper to electronic
    bill payments and purchases
    Author: Stavins, Joanna
    Published: [2021]
    Publisher:  Federal Reserve Bank of Boston, Boston

    Consumer payments in the United States gradually have been shifting away from paper checks for the past several years. Cash use has declined as well, although at a much slower pace. As the number of check payments has decreased, those payments have... more

    Access:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 82
    Inter-library loan:
    No inter-library loan

     

    Consumer payments in the United States gradually have been shifting away from paper checks for the past several years. Cash use has declined as well, although at a much slower pace. As the number of check payments has decreased, those payments have been replaced with electronic and card payments. However, the transition from paper to electronic and card payments for bills has not proceeded in the same way as the transition for purchases. Using detailed consumer survey panel data collected over nine years, we track the same respondents over time and find that consumers who reduced their check or cash use for bill payments in a given year were more likely to reduce their check or cash use for purchases in the following year; but a reduction in check or cash use for purchases was not followed by the use of fewer checks or less cash for bill payments. The results suggest that a change in bill payment behavior may be a precursor to payment behavior changes in general. These results may help predict changes in payment instrument use for various transaction types as new payment methods, such as faster payments or central bank digital currency, become available to consumers in the future.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/238087
    Edition: This version: April 2021
    Series: Working papers / Federal Reserve Bank of Boston ; no. 21, 5
    Subjects: consumer payments; check; cards; electronic payments
    Scope: 1 Online-Ressource (circa 34 Seiten), Illustrationen
  3. Image-Schemata und Partikelverben
    = Yi xiang tu shi yu ke fen dong ci
    Contributor: Ni, Dan (Zusammenstellender)
    Published: 2020
    Publisher:  Cuvillier Verlag, Göttingen

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