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 | |||