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Frontier policy issues in consumer payment behaviour

Author

Listed:
  • Schuh, Scott
  • Stavins, Joanna

    (Senior Economist and Policy Advisor, Federal Reserve Bank of Boston, USA)

Abstract

Since the mid-1990s, the US payment system has been undergoing a transformation, featuring a significant decline in the use of paper payment methods — cheques and cash — and increasing popularity of cards and electronic payments. As a consequence of this transformation, new and largely unexplored policy issues have surfaced with implications for consumer welfare. Who adopts new technology and why? Do consumers manage their finances in an optimal way, given their increased reliance on credit? And for consumers who continue to rely on the traditional financial instruments, what options do they have when their bank accounts are closed involuntarily? This paper reviews some of the most important current policy issues in consumer payments, focusing on banking and payment cards.

Suggested Citation

  • Schuh, Scott & Stavins, Joanna, 2009. "Frontier policy issues in consumer payment behaviour," Journal of Payments Strategy & Systems, Henry Stewart Publications, vol. 3(4), pages 333-348, November.
    • Handle: RePEc:aza:jpss00:y:2009:v:3:i:4:p:333-348
    as

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    More about this item

    Keywords

    consumer payments; banking; payment cards; debt; consumer behaviour;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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