Table 17 OLS regression results of contactless credit on cash in wallet
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 | 3.606 | (9.568) | 4.114 | (9.588) | 3.644 | (9.590) |
log(income) | 22.446*** | (4.547) | 22.969*** | (4.569) | 23.999*** | (4.627) |
Interest rate | 0.189 | (4.865) | − 0.159 | (5.080) | 1.013 | (5.229) |
Education | ||||||
High school | 3.021 | (19.040) | 5.792 | (19.713) | 7.755 | (20.328) |
Some college | − 1.895 | (19.759) | 1.181 | (20.455) | 2.198 | (21.104) |
College | 6.686 | (20.460) | 10.365 | (21.135) | 12.963 | (21.838) |
Post graduate | − 0.388 | (21.309) | 3.125 | (21.859) | 5.460 | (22.622) |
Employment | ||||||
Working | − 0.812 | (7.003) | − 1.902 | (6.968) | − 2.606 | (6.863) |
Retired | 4.829 | (12.600) | 7.901 | (12.779) | 8.339 | (12.343) |
Other | 5.847 | (7.943) | 6.809 | (7.767) | 6.417 | (7.663) |
Marital status | ||||||
Single | − 23.529 | (16.831) | − 22.292 | (16.930) | − 22.157 | (16.365) |
Married | − 37.789** | (15.762) | − 36.988** | (15.771) | − 36.980** | (15.222) |
Separated | − 19.454 | (15.889) | − 16.866 | (15.985) | − 14.790 | (15.458) |
Age | ||||||
25–34 | − 8.511 | (12.364) | − 8.941 | (12.580) | − 2.698 | (11.661) |
35–44 | 0.027 | (13.513) | − 0.100 | (13.677) | 7.076 | (12.889) |
45–54 | 10.213 | (13.987) | 9.080 | (14.195) | 11.900 | (13.194) |
55–64 | 25.764* | (14.509) | 23.771 | (14.812) | 26.734* | (13.945) |
> 65 | 27.009 | (17.671) | 21.299 | (17.972) | 23.995 | (17.261) |
Ethnicity | ||||||
White | − 11.911 | (15.435) | − 11.541 | (15.553) | − 13.642 | (15.659) |
Black | − 13.987 | (16.829) | − 13.339 | (16.991) | − 14.787 | (17.077) |
Latino | − 2.992 | (7.632) | − 2.791 | (7.856) | − 2.092 | (7.895) |
Other | − 4.479 | (17.283) | − 5.710 | (17.424) | − 7.681 | (17.707) |
Other | ||||||
Male | 31.668*** | (4.811) | 30.825*** | (4.872) | 29.563*** | (4.812) |
HH members | 1.085 | (2.962) | 0.912 | (2.918) | 0.629 | (2.942) |
CC revolver | − 15.320*** | (5.121) | − 14.110*** | (5.244) | − 12.023** | (5.169) |
Home owner | 17.379*** | (5.441) | 15.936*** | (5.395) | 15.149*** | (4.984) |
Rel. characteristics | ||||||
Security | − 0.793 | (3.269) | − 2.355 | (3.236) | ||
Setup | − 3.409 | (6.377) | − 7.041 | (6.319) | ||
Acceptance | 1.427 | (9.089) | 0.830 | (9.227) | ||
Costs | − 8.512 | (7.372) | − 7.981 | (7.201) | ||
Records | 0.457 | (4.830) | − 1.543 | (4.720) | ||
Convenience | 12.896* | (6.699) | 11.800* | (6.435) | ||
Withdrawal method | ||||||
Bank teller | 20.917*** | (6.983) | ||||
Check casher | 94.271** | (40.477) | ||||
Cashback | − 13.049** | (6.096) | ||||
Employer | 36.990** | (15.603) | ||||
Family | 4.733 | (10.735) | ||||
Other | 28.496 | (19.593) | ||||
Constant | − 176.079*** | (49.450) | − 177.989*** | (50.897) | − 206.114*** | (52.532) |
R 2 | 0.153 | 0.155 | 0.182 | |||
Individuals | 1465 | 1453 | 1453 | |||