IDEAS home Printed from https://ideas.repec.org/p/fip/fedadr/99467.html
   My bibliography  Save this paper

The 2010 Survey of Consumer Payment Choice: Summary Results

Author

Listed:

Abstract

In 2010, the number of consumer payments increased nearly 9 percent from 2009 as economic activity began to rebound from the financial crisis and recession. Cash payments by consumers, which had increased sharply in 2009, did not fall back but rather grew another 3 percent in 2010. However, the share of cash payments, the dollar amount of cash withdrawals, and cash holdings by consumers decreased moderately in 2010. Credit card payments by consumers increased 15 percent, reversing more than half the 2009 decline, and the steady trend decline in paper check payments by consumers continued. Debit cards and cash continued to account for the two largest shares of consumer payments (31.1 and 28.6 percent, respectively), and consumer adoption of all types of prepaid cards (38.2 percent) increased notably in 2010. Mobile banking and mobile payments by consumers continued to show moderate increases through the end of 2010, consistent with early stages of technology adoption. The 2010 SCPC contains new results that may help researchers and policymakers identify potential indirect effects of Regulation II (Durbin Amendment) on consumers and may help to inform the Federal Reserve's new strategic plan for the payment system.

Suggested Citation

  • Kevin Foster & Scott Schuh & Hanbing Zhang, 2013. "The 2010 Survey of Consumer Payment Choice: Summary Results," Consumer Payments Research Data Reports 2013-02, Federal Reserve Bank of Atlanta.
    • Handle: RePEc:fip:fedadr:99467
    as

    Download full text from publisher

    File URL: https://www.atlantafed.org/-/media/documents/banking/consumer-payments/research-data-reports/2013/the-2010-survey-of-consumer-payment-choice/rdr1302.pdf
    File Function: Full text
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Scott Schuh & Joanna Stavins, 2013. "How Consumers Pay: Adoption and Use of Payments," Accounting and Finance Research, Sciedu Press, vol. 2(2), pages 1-1, May.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Tamas Briglevics & Scott Schuh, 2013. "U.S. consumer demand for cash in the era of low interest rates and electronic payments," Working Papers 13-23, Federal Reserve Bank of Boston.
    2. David Hao Zhang, 2016. "How do people pay rent?," Research Data Report 16-2, Federal Reserve Bank of Boston.
    3. Jaemin Son & Mehmet Huseyin Bilgin & Doojin Ryu, 2022. "Consumer choices under new payment methods," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-22, December.
    4. Claire Greene & Julian Perry & Joanna Stavins, 2024. "Consumer Payment Behavior by Income and Demographics," Working Papers 24-8, Federal Reserve Bank of Boston.
    5. Carbó-Valverde, Santiago & Cuadros-Solas, Pedro J. & Rodríguez-Fernández, Francisco & Sánchez-Béjar, José Juan, 2023. "Mobility restrictions and payment choices: The case of the Covid-19 pandemic," Journal of Behavioral and Experimental Finance, Elsevier, vol. 40(C).
    6. Ulf Kalckreuth & Tobias Schmidt & Helmut Stix, 2014. "Choosing and using payment instruments: evidence from German microdata," Empirical Economics, Springer, vol. 46(3), pages 1019-1055, May.
    7. Scott Schuh & Joanna Stavins, 2014. "The 2011 and 2012 Surveys of Consumer Payment Choice: Summary Results," Consumer Payments Research Data Reports 2014-01, Federal Reserve Bank of Atlanta.
    8. Pidong Huang & Manjong Lee, 2015. "Coordination on Use of Non-deferred Electronic Payment Instruments," Korean Economic Review, Korean Economic Association, vol. 31, pages 5-24.
    9. Lee, Manjong, 2014. "Constrained or unconstrained price for debit card payment?," Journal of Macroeconomics, Elsevier, vol. 41(C), pages 53-65.
    10. Sarika Lohana & Deepankar Roy, 2023. "Impact of Demographic Factors on Consumer’s Usage of Digital Payments," FIIB Business Review, , vol. 12(4), pages 459-473, December.
    11. Wang, Zhu & Wolman, Alexander L., 2016. "Payment choice and currency use: Insights from two billion retail transactions," Journal of Monetary Economics, Elsevier, vol. 84(C), pages 94-115.

    More about this item

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedadr:99467. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Rob Sarwark (email available below). General contact details of provider: https://edirc.repec.org/data/frbatus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.