Table 22 FE regression results of contactless debit on usual cash withdrawn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 debit | − 2.250 | (7.691) | − 2.966 | (7.751) | − 5.062 | (7.725) |
log(income) | 13.180*** | (5.052) | 14.032** | (6.080) | 14.064** | (5.722) |
Interest rate | − 6.115 | (4.419) | − 5.534 | (5.620) | − 5.703 | (5.316) |
Education | ||||||
High school | 43.297*** | (16.342) | 110.610*** | (14.186) | 73.845*** | (15.433) |
Some college | 79.346*** | (23.743) | 177.691*** | (57.411) | 89.593* | (47.979) |
College | 50.543 | (31.071) | 153.333** | (60.971) | 71.590 | (51.456) |
Post graduate | 134.919* | (81.733) | 239.194** | (120.869) | 154.730 | (109.015) |
Employment | ||||||
Working | − 2.741 | (7.396) | − 4.863 | (8.944) | − 9.299 | (8.963) |
Retired | 19.282* | (10.956) | 5.419 | (15.423) | 5.857 | (13.374) |
Other | 8.306 | (8.753) | − 6.275 | (11.157) | − 5.310 | (9.909) |
Marital status | ||||||
Single | − 16.405 | (25.948) | 15.137 | (18.551) | 15.823 | (16.334) |
Married | − 35.387 | (23.518) | − 9.051 | (12.606) | − 3.195 | (10.892) |
Separated | − 58.642* | (30.508) | − 30.496 | (23.113) | − 21.275 | (22.700) |
Age | ||||||
25–34 | 27.552* | (15.736) | − 2.481 | (9.766) | 0.370 | (12.142) |
35–44 | 45.886* | (23.834) | 15.797 | (28.556) | 21.034 | (26.914) |
45–54 | 65.007** | (26.469) | 26.038 | (31.001) | 26.697 | (29.051) |
55–64 | 63.898** | (29.855) | 12.884 | (35.174) | 15.375 | (33.524) |
> 65 | 71.227** | (32.871) | 4.624 | (37.857) | 5.884 | (36.258) |
Other | ||||||
HH members | − 0.524 | (4.680) | − 0.951 | (4.890) | − 0.696 | (4.738) |
CC revolver | − 7.442 | (5.676) | − 3.239 | (6.892) | − 1.042 | (6.369) |
Home owner | − 6.778 | (10.660) | − 17.967 | (13.238) | − 17.593 | (13.200) |
Rel. characteristics | ||||||
Security | -5.028 | (3.208) | − 4.280 | (3.126) | ||
Setup | 10.431** | (4.616) | 7.110 | (4.588) | ||
Acceptance | 3.481 | (8.858) | 4.735 | (8.138) | ||
Costs | 1.605 | (7.332) | 0.797 | (6.999) | ||
Records | − 1.113 | (5.140) | − 0.076 | (4.793) | ||
Convenience | − 4.070 | (6.906) | − 4.625 | (6.730) | ||
Withdrawal method | ||||||
Bank teller | 55.641*** | (10.210) | ||||
Check casher | 137.978** | (67.915) | ||||
Cashback | − 26.767*** | (6.760) | ||||
Employer | 67.020 | (43.680) | ||||
Family | − 11.546 | (19.602) | ||||
Other | 95.660*** | (28.368) | ||||
Constant | − 118.698* | (67.890) | − 187.422** | (92.827) | − 134.658 | (83.228) |
R 2 | 0.012 | 0.011 | 0.067 | |||
Observations | 3874 | 3084 | 3084 | |||
Individuals | 906 | 899 | 899 | |||