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Table 21 FE regression results of contactless credit on usual cash withdrawn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 6.766 (8.994) 6.855 (11.044) 8.906 (9.824)
log(income) 14.122** (5.529) 13.766** (6.516) 13.252** (6.046)
Interest rate − 7.159 (4.711) − 6.441 (6.039) − 7.647 (5.589)
Education       
High school 43.406*** (14.167) 122.086*** (14.509) 85.841*** (15.074)
Some college 32.472 (34.641) 89.550** (38.303) 54.721* (33.044)
College 12.856 (40.084) 77.117* (44.403) 48.044 (37.261)
Post graduate 108.020 (96.184) 158.726 (114.876) 129.450 (103.538)
Employment       
Working 0.219 (7.063) 1.280 (8.799) − 6.703 (8.585)
Retired 16.541* (9.485) 2.175 (15.467) 2.803 (12.956)
Other 11.452 (9.673) − 5.453 (11.630) − 2.332 (9.974)
Marital status       
Single − 13.859 (26.602) 23.607 (20.204) 19.462 (16.548)
Married − 32.397 (24.074) − 4.865 (12.767) − 1.174 (10.759)
Separated − 64.106** (32.425) − 39.145 (27.394) -32.862 (26.563)
Age       
25–34 − 2.776 (24.980) − 54.813 (50.620) − 42.631 (31.037)
35–44 7.863 (31.520) − 43.913 (56.847) − 30.950 (38.648)
45–54 30.710 (33.577) − 29.556 (58.464) − 20.446 (40.516)
55–64 22.564 (36.222) − 54.677 (60.666) − 43.059 (43.378)
> 65 22.965 (38.734) − 63.749 (63.070) − 54.154 (46.441)
Other       
HH members 1.347 (4.757) − 0.497 (5.104) − 0.563 (4.871)
CC revolver − 8.449 (5.819) − 7.186 (7.256) − 4.161 (6.674)
Home owner − 0.779 (10.929) − 6.971 (13.889) − 6.730 (13.816)
Rel. characteristics       
Security    − 4.807 (3.289) − 4.943 (3.177)
Setup    11.827** (5.155) 6.380 (5.042)
Acceptance    2.090 (9.564) 2.860 (8.746)
Costs    − 4.646 (7.541) − 6.628 (7.101)
Records    − 6.953 (5.380) − 4.379 (4.876)
Convenience    − 4.244 (7.456) − 3.704 (7.332)
Withdrawal method       
Bank teller      59.979*** (11.149)
Check casher      167.391*** (56.741)
Cashback      − 32.326*** (7.362)
Employer      96.928** (42.046)
Family      − 19.688 (19.508)
Other      93.385*** (27.951)
Constant − 68.904 (73.526) − 84.921 (93.207) − 74.108 (80.500)
R 2 0.012   0.016   0.088  
Observations 3592   2865   2865  
Individuals 853   845   845  
  1. FE is the fixed-effects estimator obtained on the balanced panel. b are the point estimates and se the standard errors. Cluster-robust standard errors 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