The impact of contactless payment on cash usage at an early stage of diffusion

Swiss Journal of Economics and Statistics

Table 5 Cash Measures of Contactless Credit Card Innovators and Non-Innovators

Innovator						Non-Innovator							t-Test	Ranksum-Test
Variable	Mean	SD	Med.	Min.	Max.	Obs.	Mean	SD	Med.	Min.	Max.	Obs.	Mean Diff.	z-values
Usual Withdrawal	120.855	139.313	60.000	0.000	850.000	550	127.032	155.492	80.000	0.000	850.000	5011	-7.820	0.073*
Nr. of Withdrawals	2.934	2.872	2.000	0.000	21.741	549	3.494	3.505	2.000	0.000	21.741	5023	-0.551***	0.000***
Cash in Wallet	68.860	92.425	40.000	0.000	500.000	554	67.282	90.598	35.000	0.000	500.000	5023	0.871	0.048**
Cash Share	0.275	0.234	0.229	0.000	1.000	544	0.363	0.289	0.319	0.000	1.000	4983	-0.088***	0.000***

All variables are winsorized at the 99%-level except cash share. Cash management measures are reported in USD except the number of withdrawals and cash share. The usual cash withdrawal amount and the number of withdrawals relate to the primary location. Cash share is the ratio of the total number of cash transactions in a typical month at the POS to the total number of all purchases in a typical month at the POS. Survey weights used. T-tests of mean differences of innovators and non-innovators are displayed. Differences may stray from true values due to rounding and weighting. The Wilcoxon rank-sum test is displayed (z-values). Significance levels are denoted as *** p <0.01, ** p <0.05, * p <0.1.