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 | 8.371 | (12.976) | 6.850 | (14.477) | 6.067 | (14.318) |
log(income) | 12.786*** | (4.315) | 11.055*** | (4.237) | 10.827** | (4.272) |
Interest rate | − 4.682 | (4.328) | − 7.248 | (5.624) | − 6.786 | (5.622) |
Education | ||||||
High school | 22.749*** | (6.643) | 21.033** | (9.831) | 5.685 | (10.927) |
Some college | 34.216 | (22.420) | 37.017 | (28.817) | 18.492 | (27.996) |
College | 56.729** | (27.883) | 57.559* | (34.903) | 40.469 | (34.991) |
Post graduate | 90.759** | (42.140) | 69.550 | (42.755) | 49.777 | (41.246) |
Employment | ||||||
Working | − 5.712 | (7.804) | − 3.206 | (8.858) | − 3.256 | (8.653) |
Retired | 5.639 | (9.589) | 33.880*** | (12.537) | 33.505*** | (12.363) |
Other | 8.499 | (8.777) | 0.718 | (10.640) | 1.618 | (10.546) |
Marital status | ||||||
Single | 3.580 | (25.940) | 31.442 | (38.132) | 30.960 | (37.818) |
Married | − 2.111 | (24.427) | 10.350 | (36.163) | 11.797 | (35.912) |
Separated | 0.832 | (24.022) | 6.940 | (35.086) | 7.005 | (34.823) |
Age | ||||||
25–34 | − 12.806 | (14.095) | − 47.290* | (24.754) | − 48.077* | (26.045) |
35–44 | − 9.874 | (18.077) | − 39.249 | (27.810) | − 40.680 | (28.671) |
45–54 | − 11.948 | (19.972) | − 43.834 | (30.011) | − 43.679 | (30.794) |
55–64 | − 0.598 | (21.883) | − 31.003 | (32.207) | − 30.349 | (32.904) |
> 65 | 2.505 | (23.721) | − 27.453 | (33.924) | − 25.689 | (34.512) |
Other | ||||||
HH members | 0.613 | (2.484) | − 0.103 | (3.061) | 0.088 | (3.078) |
CC revolver | − 0.053 | (4.976) | − 1.117 | (6.277) | − 1.473 | (6.354) |
Home owner | − 2.163 | (8.108) | − 6.272 | (10.283) | − 6.916 | (10.301) |
Rel. characteristics | ||||||
Security | − 2.873 | (2.274) | − 2.415 | (2.262) | ||
Setup | 2.135 | (4.750) | 2.088 | (4.763) | ||
Acceptance | − 0.195 | (5.424) | − 0.452 | (5.493) | ||
Costs | − 1.493 | (5.273) | − 1.690 | (5.286) | ||
Records | 3.188 | (3.449) | 3.792 | (3.452) | ||
Convenience | − 1.924 | (4.760) | − 1.777 | (4.800) | ||
Withdrawal method | ||||||
Bank teller | 21.945*** | (7.388) | ||||
Check casher | 6.857 | (13.532) | ||||
Cashback | − 0.751 | (4.903) | ||||
Employer | − 18.784 | (15.614) | ||||
Family | 12.484 | (9.592) | ||||
Other | 5.559 | (13.758) | ||||
Constant | − 111.279** | (55.791) | − 72.804 | (66.349) | − 58.150 | (66.991) |
R 2 | 0.009 | 0.014 | 0.024 | |||
Observations | 3599 | 2874 | 2874 | |||
Individuals | 851 | 844 | 844 |