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 | − 4.297 | (8.632) | − 2.101 | (8.698) | 0.426 | (8.579) |
log(income) | 22.570*** | (4.533) | 23.138*** | (4.532) | 24.163*** | (4.586) |
Interest rate | 0.261 | (4.868) | − 0.116 | (5.072) | 1.036 | (5.223) |
Education | ||||||
High school | 2.530 | (19.833) | 5.129 | (20.836) | 7.041 | (21.495) |
Some college | − 2.438 | (20.582) | 0.488 | (21.607) | 1.440 | (22.324) |
College | 6.204 | (21.106) | 9.803 | (22.082) | 12.375 | (22.850) |
Post graduate | − 0.831 | (21.867) | 2.645 | (22.718) | 4.967 | (23.545) |
Employment | ||||||
Working | − 0.532 | (7.003) | − 1.727 | (6.989) | − 2.544 | (6.873) |
Retired | 4.759 | (12.582) | 7.709 | (12.759) | 8.146 | (12.309) |
Other | 6.109 | (8.026) | 6.877 | (7.822) | 6.326 | (7.713) |
Marital status | ||||||
Single | − 23.694 | (16.853) | − 22.452 | (16.982) | − 22.318 | (16.391) |
Married | − 37.883** | (15.795) | − 37.085** | (15.815) | -37.094** | (15.245) |
Separated | − 19.301 | (15.917) | − 16.765 | (16.034) | − 14.785 | (15.485) |
Age | ||||||
25–34 | − 8.175 | (12.195) | − 8.866 | (12.419) | − 2.950 | (11.503) |
35–44 | − 0.213 | (13.365) | − 0.347 | (13.579) | 6.858 | (12.795) |
45–54 | 9.806 | (13.872) | 8.696 | (14.121) | 11.577 | (13.133) |
55–64 | 25.473* | (14.316) | 23.488 | (14.655) | 26.461* | (13.766) |
> 65 | 26.882 | (17.618) | 21.233 | (17.976) | 23.932 | (17.258) |
Ethnicity | ||||||
White | − 12.432 | (15.334) | − 11.990 | (15.489) | − 14.012 | (15.560) |
Black | − 14.257 | (16.713) | − 13.823 | (16.918) | − 15.384 | (16.975) |
Latino | − 2.734 | (7.618) | − 2.590 | (7.836) | − 1.968 | (7.864) |
Other | − 4.511 | (17.154) | − 5.844 | (17.351) | − 7.955 | (17.618) |
Other | ||||||
Male | 31.826*** | (4.800) | 30.983*** | (4.856) | 29.676*** | (4.791) |
HH members | 1.076 | (2.949) | 0.895 | (2.914) | 0.601 | (2.933) |
CC revolver | − 15.400*** | (5.098) | − 14.107*** | (5.223) | − 11.953** | (5.141) |
Home owner | 17.090*** | (5.481) | 15.767*** | (5.434) | 15.089*** | (5.014) |
Rel. characteristics | ||||||
Security | − 0.734 | (3.257) | − 2.321 | (3.222) | ||
Setup | − 3.304 | (6.158) | − 6.769 | (6.106) | ||
Acceptance | 1.383 | (9.081) | 0.816 | (9.215) | ||
Costs | − 8.711 | (7.340) | − 8.160 | (7.192) | ||
Records | 0.583 | (4.814) | − 1.448 | (4.716) | ||
Convenience | 12.647* | (6.708) | 11.532* | (6.438) | ||
Withdrawal method | ||||||
Bank teller | 20.921*** | (7.011) | ||||
Check casher | 93.853** | (40.348) | ||||
Cashback | − 13.221** | (6.138) | ||||
Employer | 36.721** | (15.692) | ||||
Family | 4.369 | (10.858) | ||||
Other | 28.434 | (19.534) | ||||
Constant | − 175.522*** | (49.091) | − 177.964*** | (50.477) | − 206.167*** | (52.098) |
R 2 | 0.153 | 0.155 | 0.182 | |||
Individuals | 1466 | 1454 | 1454 |