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Table 16 OLS regression results of contactless debit on number of withdrawals

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 debit 1.043 (1.299) 0.028 (0.899) 0.156 (0.863)
log(income) − 0.840 (0.546) − 0.905 (0.553) − 0.820* (0.457)
Interest rate − 0.232 (0.354) − 0.212 (0.359) − 0.134 (0.362)
Education       
High school − 4.155 (3.334) − 1.417 (1.916) − 1.775 (1.778)
Some college − 4.972 (3.227) − 2.250 (1.775) − 2.536 (1.705)
College − 4.213 (3.171) − 1.613 (1.835) − 1.873 (1.726)
Post graduate − 4.218 (3.283) − 1.551 (1.963) − 1.876 (1.793)
Employment       
Working 1.622* (0.961) 0.935 (0.687) 0.653 (0.630)
Retired 0.796 (1.158) − 0.368 (0.589) − 0.362 (0.608)
Other 0.279 (0.972) − 0.540 (0.606) − 0.592 (0.596)
Marital status       
Single − 0.137 (2.173) − 0.458 (2.130) − 0.450 (2.147)
Married − 1.700 (1.933) − 2.170 (1.859) − 2.154 (1.873)
Separated − 2.652 (2.035) − 2.923 (2.017) − 2.788 (2.042)
Age       
25–34 − 2.019 (2.755) − 2.189 (2.748) − 1.672 (2.391)
35–44 − 0.903 (2.610) − 0.967 (2.552) − 0.546 (2.265)
45–54 − 0.518 (2.720) − 0.976 (2.575) − 0.568 (2.299)
55–64 − 0.943 (2.608) − 1.138 (2.471) − 0.827 (2.195)
> 65 − 0.731 (2.725) − 1.092 (2.448) − 0.548 (2.172)
Ethnicity       
White 0.900 (1.025) 1.006 (1.084) 0.641 (0.945)
Black 4.444** (1.815) 3.140** (1.553) 2.783* (1.495)
Latino 0.258 (0.645) 0.466 (0.580) 0.393 (0.594)
Other 5.126** (2.426) 5.360** (2.488) 4.904** (2.175)
Other       
Male 0.952 (0.580) 0.712 (0.509) 0.567 (0.463)
HH members − 0.103 (0.196) − 0.130 (0.201) − 0.102 (0.197)
CC revolver − 0.618 (0.424) − 0.523 (0.437) − 0.455 (0.455)
Home owner − 1.463** (0.742) − 1.110* (0.629) − 0.943 (0.669)
Rel. characteristics       
Security    0.131 (0.284) 0.048 (0.281)
Setup    − 0.131 (0.745) − 0.112 (0.731)
Acceptance    − 0.934 (0.775) − 0.972 (0.730)
Costs    − 0.509 (0.658) − 0.340 (0.586)
Records    − 0.040 (0.423) − 0.118 (0.405)
Convenience    0.467 (0.712) 0.521 (0.710)
Withdrawal method       
Bank teller      − 0.397 (0.521)
Check casher      14.577 (11.053)
Cashback      0.005 (0.762)
Employer      1.233 (1.576)
Family      − 0.869 (1.015)
Other      2.551 (1.801)
Constant 18.355*** (6.748) 17.354*** (6.673) 16.527*** (5.613)
R 2 0.093   0.085   0.110  
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