Consumer Cash Usage: A Cross-Country Comparison with Payment Diary Survey Data
45 Pages Posted: 21 Jun 2016
Date Written: 2014
We measure consumers' use of cash by harmonizing payment diary surveys from seven countries: Australia, Austria, Canada, France, Germany, the Netherlands, and the United States (conducted 2009 through 2012). Our paper finds important cross-country differences, for example, the level of cash usage differs across countries. Cash has not disappeared as a payment instrument, especially for low-value transactions. We also find that the use of cash is strongly correlated with transaction size, demographics, and point-of-sale characteristics, such as merchant card acceptance and venue.
Keywords: money demand, payment systems, harmonization, payment diaries, crosscountry comparison
JEL Classification: E41, D12, E58
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