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Table 13 OLS regression results of contactless credit on usual cash withdrawn

From: The impact of contactless payment on cash usage at an early stage of diffusion

  (1) (2) (3)
Variable b se b se b se
Contactless credit − 5.301 (14.613) − 5.507 (14.760) − 10.587 (15.396)
log(income) 30.885*** (6.308) 35.589*** (6.301) 37.976*** (6.451)
Interest rate − 6.433 (11.463) − 5.329 (10.787) − 1.799 (9.505)
Education       
High school − 24.227 (31.741) − 23.819 (33.539) − 16.421 (36.158)
Some college − 14.669 (32.814) − 13.565 (34.835) − 10.931 (37.197)
College − 33.381 (33.496) − 28.655 (35.686) − 20.106 (38.322)
Post graduate − 10.333 (35.484) − 6.421 (37.492) 1.853 (40.304)
Employment       
Working − 24.375* (13.123) − 23.459* (13.400) − 23.946** (12.172)
Retired 3.797 (24.020) 7.888 (23.649) 9.055 (23.476)
Other 31.713** (15.364) 35.325** (15.512) 33.888** (15.257)
Marital status       
Single − 35.151 (34.478) − 32.307 (33.662) − 33.348 (30.590)
Married − 57.976* (32.407) − 58.621* (31.320) − 59.704** (29.269)
Separated − 27.190 (34.106) − 22.297 (33.602) − 16.506 (30.831)
Age       
25–34 15.620 (19.975) 22.015 (20.370) 36.509** (18.243)
35–44 11.993 (22.396) 15.083 (22.467) 34.465* (19.610)
45–54 38.200* (22.869) 36.187 (22.962) 39.305** (20.018)
55–64 36.924 (25.361) 31.116 (25.617) 34.154 (22.811)
> 65 44.779 (31.808) 30.569 (32.846) 31.962 (30.458)
Ethnicity       
White − 21.338 (44.445) − 22.980 (45.108) − 30.039 (45.024)
Black 0.618 (48.577) − 5.700 (48.927) − 10.741 (48.945)
Latino 23.720 (15.654) 18.551 (14.956) 21.396 (14.878)
Other − 26.842 (47.219) − 28.048 (48.138) -33.685 (48.045)
Other       
Male 25.931*** (9.259) 27.375*** (9.215) 22.688** (8.926)
HH members 0.582 (4.399) − 0.194 (4.387) − 1.627 (4.491)
CC revolver − 41.217*** (9.535) − 38.676*** (9.681) − 30.695*** (9.370)
Home owner 17.532 (12.353) 16.992 (12.130) 11.995 (11.307)
Rel. characteristics       
Security    19.570*** (7.492) 14.066** (6.883)
Setup    − 18.465 (11.395) − 32.118*** (11.052)
Acceptance    22.753 (16.290) 22.957 (16.678)
Costs    − 1.936 (13.064) − 2.073 (12.444)
Records    13.911 (8.519) 6.240 (8.207)
Convenience    37.702*** (11.137) 33.056*** (10.417)
Withdrawal method       
Bank teller      83.374*** (13.958)
Check casher      209.064*** (60.061)
Cashback      − 60.506*** (7.440)
Employer      103.629** (40.740)
Family      8.894 (28.750)
Other      98.102** (45.644)
Constant − 154.330* (88.997) − 130.304 (90.618) − 206.721** (94.081)
R 2 0.083   0.112   0.208  
Individuals 1464   1452   1452  
  1. b are the point estimates and se the standard errors. Cluster-robust standard errors and survey weights are used. HH and CC refers to household and credit card, respectively. Base category of categorical variables is lower than high school, unemployed, widowed, lower than 25 years, Asian, and ATM. Significance levels are denoted as ***p <0.01, **p <0.05, *p <0.1