Payment Instrument Adoption and Use in the United States, 2009-2013, by Consumers' Demographic Characteristics

51 Pages Posted: 1 Jan 2016

See all articles by Sean Connolly

Sean Connolly

Boston University

Joanna Stavins

Federal Reserve Bank of Boston

Date Written: 2015-10-19

Abstract

Today's consumer has access to more payment instruments than consumers of just a few years ago. As the number of available payment methods increases, so does the need to understand why consumers adopt certain payment instruments, how consumers choose to pay for purchases, which consumers make certain payments, and who is most affected by changes in the payment system. Previous literature that examined the association between consumer payment behavior and consumer demographic information was based on data from a single time period. This paper contributes to the literature on this topic by reporting, for the first time, demographic trends in consumer adoption and use of several payment instruments over the period of five consecutive years from 2009 to 2013.

JEL Classification: D12, D14

Suggested Citation

Connolly, Sean and Stavins, Joanna, Payment Instrument Adoption and Use in the United States, 2009-2013, by Consumers' Demographic Characteristics (2015-10-19). Research Data Reports Paper No. 15-6, Available at SSRN: https://ssrn.com/abstract=2709920

Sean Connolly (Contact Author)

Boston University ( email )

595 Commonwealth Avenue
Boston, MA 02215
United States

Joanna Stavins

Federal Reserve Bank of Boston ( email )

600 Atlantic Avenue
Boston, MA 02210
United States
617-973-4217 (Phone)
617-973-4218 (Fax)

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