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2022 Survey and Diary of Consumer Payment Choice

Author

Listed:
  • Kevin Foster
  • Claire Greene
  • Joanna Stavins

Abstract

In October 2022, US consumers reported making 39 payments per month on average, unchanged from 2021 when adjusted for questionnaire changes. As a share of all payments by number, most payments were by credit card (31 percent) or debit card (29 percent). By value, 43 percent of payments value was made electronically from a bank account using one of two ACH methods and 35 percent were made using a card (debit, credit, or prepaid).

Suggested Citation

  • Kevin Foster & Claire Greene & Joanna Stavins, 2023. "2022 Survey and Diary of Consumer Payment Choice," Consumer Payments Research Data Reports 2023-03, Federal Reserve Bank of Atlanta.
    • Handle: RePEc:fip:fedadr:99830
    DOI: 10.29338/rdr2023-03
    as

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    File URL: https://www.atlantafed.org/-/media/documents/banking/consumer-payments/survey-diary-consumer-payment-choice/2022/sdcpc_2022_report.pdf
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    File URL: https://libkey.io/10.29338/rdr2023-03?utm_source=ideas
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    More about this item

    Keywords

    cash; checks; checking accounts; debit cards; credit cards; prepaid cards; electronic payments; payment preferences; unbanked;
    All these keywords.

    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

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