Table 26 FE regression results of contactless debit 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 debit | 3.789 | (5.966) | 4.256 | (7.965) | 3.206 | (7.945) |
log(income) | 14.059*** | (5.240) | 13.057*** | (4.988) | 13.154*** | (5.006) |
Interest rate | − 3.960 | (4.175) | − 7.424 | (5.338) | − 7.002 | (5.358) |
Education | ||||||
High school | 22.962*** | (5.741) | 23.694** | (9.272) | 13.458 | (10.292) |
Some college | 8.841 | (40.354) | − 42.988 | (49.328) | − 46.158 | (35.830) |
College | 33.112 | (43.942) | − 25.073 | (52.826) | − 27.669 | (40.513) |
Post graduate | 60.546 | (52.828) | − 16.242 | (58.945) | − 20.329 | (47.134) |
Employment | ||||||
Working | 2.339 | (7.593) | 4.849 | (8.873) | 5.420 | (8.717) |
Retired | 6.492 | (8.506) | 25.442** | (12.730) | 24.980** | (12.509) |
Other | 7.170 | (7.620) | 4.548 | (9.582) | 5.150 | (9.593) |
Marital status | ||||||
Single | − 5.355 | (21.662) | 3.977 | (32.038) | 4.851 | (31.983) |
Married | − 17.728 | (20.232) | − 11.518 | (30.069) | − 9.448 | (29.966) |
Separated | − 25.935 | (24.999) | − 29.421 | (36.135) | − 26.059 | (35.745) |
Age | ||||||
25–34 | 5.047 | (13.856) | − 33.830 | (26.245) | − 31.345 | (26.809) |
35–44 | 4.502 | (17.233) | − 32.614 | (29.194) | − 31.246 | (29.329) |
45–54 | 2.512 | (19.327) | − 40.682 | (31.522) | − 37.907 | (31.710) |
55–64 | 17.968 | (21.568) | − 24.783 | (33.801) | − 21.768 | (33.750) |
> 65 | 25.009 | (23.794) | − 17.044 | (35.696) | − 13.001 | (35.650) |
Other | ||||||
HH members | − 0.748 | (2.545) | − 0.673 | (3.064) | − 0.704 | (3.049) |
CC revolver | − 3.961 | (4.785) | − 1.643 | (5.826) | − 1.743 | (5.844) |
Home owner | − 1.334 | (7.684) | − 7.772 | (9.411) | − 8.442 | (9.467) |
Rel. characteristics | ||||||
Security | − 3.354 | (2.297) | − 3.030 | (2.304) | ||
Setup | 3.689 | (4.183) | 3.683 | (4.189) | ||
Acceptance | − 0.064 | (4.609) | − 0.270 | (4.640) | ||
Costs | − 2.416 | (4.978) | − 2.466 | (4.982) | ||
Records | 1.844 | (3.087) | 2.089 | (3.093) | ||
Convenience | − 3.301 | (4.358) | − 3.054 | (4.361) | ||
Withdrawal method | ||||||
Bank teller | 14.425** | (6.723) | ||||
Check casher | 4.667 | (13.153) | ||||
Cashback | − 3.940 | (5.414) | ||||
Employer | − 17.593 | (14.111) | ||||
Family | 16.414 | (15.787) | ||||
Other | 5.485 | (9.757) | ||||
Constant | − 108.235 | (67.233) | − 13.011 | (73.219) | − 17.689 | (67.989) |
R 2 | 0.011 | 0.014 | 0.020 | |||
Observations | 3882 | 3093 | 3093 | |||
Individuals | 905 | 898 | 898 | |||