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Title: Consumer payment choices: paper, plastic, or electrons?

Authors: Jeanne M. Hogarth, Jane Kolodinsky, Tatiana Gabor

Addresses: Consumer and Community Affairs, Federal Reserve Board, Mail Stop 805, 20th and C Sts., N.W., Washington DC 20551, USA. ' Community Development and Applied Economics, University of Vermont, Burlington VT 05405-0106, USA. ' Department of Statistics, University of California at Berkeley, Berkeley, CA, 94720, USA

Abstract: Using data from the Surveys of Consumers, this paper examines the portfolio of payment choices that different groups of consumers use and identifies the socio-economic, demographic, and attitudinal characteristics of groups of consumers that fall within those choice sets. We find that younger, married, more highly educated, higher income, higher asset households were more likely to adopt a broad range of electronic payment choices. We also find that consumers| attitudes and perceptions of e-banking, in terms of security and privacy, convenience, and familiarity and ease of use, were significant correlates of payment choices.

Keywords: consumer payments; payment choices; electronic banking; e-banking; phone banking; online banking; ATM; security; privacy; banking technology; cluster analysis; logit.

DOI: 10.1504/IJEBANK.2008.020437

International Journal of Electronic Banking, 2008 Vol.1 No.1, pp.16 - 35

Available online: 24 Sep 2008 *

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