Skip to main content

Table 28 FE regression results of contactless debit on cash share volume

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 − 0.003 (0.033) 0.003 (0.038) 0.004 (0.038)
log(income) 0.015 (0.013) 0.022 (0.014) 0.020 (0.014)
Interest rate 0.012 (0.010) 0.011 (0.010) 0.011 (0.010)
Education       
High school 0.269*** (0.067) 0.357*** (0.029) 0.344*** (0.032)
Some college 0.264* (0.158) 0.488*** (0.087) 0.454*** (0.097)
College 0.090 (0.169) 0.226** (0.109) 0.195* (0.116)
Post graduate 0.092 (0.185) 0.211* (0.125) 0.181 (0.129)
Employment       
Working − 0.009 (0.014) 0.009 (0.017) 0.007 (0.017)
Retired − 0.010 (0.017) − 0.033 (0.026) − 0.035 (0.026)
Other − 0.016 (0.018) − 0.032 (0.023) − 0.031 (0.023)
Marital status       
Single 0.013 (0.067) 0.028 (0.072) 0.027 (0.071)
Married 0.026 (0.055) 0.053 (0.058) 0.053 (0.057)
Separated 0.036 (0.058) 0.077 (0.059) 0.076 (0.058)
Age       
25–34 − 0.101 (0.063) − 0.227* (0.124) − 0.227* (0.124)
35–44 − 0.093 (0.067) − 0.222* (0.126) − 0.223* (0.126)
45–54 − 0.105 (0.070) − 0.230* (0.129) − 0.233* (0.129)
55–64 − 0.133* (0.073) − 0.260** (0.131) − 0.261** (0.131)
> 65 − 0.101 (0.076) − 0.253* (0.133) − 0.254* (0.133)
Other       
HH members 0.000 (0.007) 0.004 (0.008) 0.005 (0.008)
CC revolver − 0.013 (0.012) − 0.024* (0.014) − 0.023 (0.014)
Home owner − 0.040* (0.021) − 0.032 (0.026) − 0.031 (0.025)
Rel. characteristics       
Security    − 0.009 (0.006) − 0.008 (0.006)
Setup    0.018 (0.012) 0.018 (0.012)
Acceptance    − 0.006 (0.014) − 0.006 (0.014)
Costs    0.014 (0.015) 0.013 (0.015)
Records    0.003 (0.009) 0.003 (0.009)
Convenience    0.003 (0.012) 0.004 (0.012)
Withdrawal Method       
Bank teller      0.020 (0.016)
Check casher      − 0.017 (0.043)
Cashback      − 0.014 (0.015)
Employer      0.018 (0.040)
Family      − 0.015 (0.028)
Other      − 0.014 (0.025)
Constant 0.117 (0.213) 0.006 (0.207) 0.047 (0.210)
R 2 0.013   0.028   0.030  
Observations 3832   3075   3074  
Individuals 905   899   898  
  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