Consumer Awareness and the Use of Payment Media: Evidence from Young Finnish Consumers
AbstractWe provide evidence that increasing consumer awareness may have been underlying the rise of debit card use. We find that consumers typically use multiple payment media and that this behavior is closely related to the use of debit cards besides cash. Moreover, it turns out that the use of multiple payment media is directly related to consumer awareness but that not controlling for the endogeneity of awareness can bias its effect downwards. Conditional on the use of multiple payment methods, however, awareness does not distinguish those making debit a primary payment method from those making it secondary to cash.
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Bibliographic InfoArticle provided by De Gruyter in its journal Review of Network Economics.
Volume (Year): 8 (2009)
Issue (Month): 2 (June)
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Web page: http://www.degruyter.com
Other versions of this item:
- Hyytinen, Ari & Takalo, Tuomas, 2008. "Consumer awareness and the use of payment media: evidence from young Finnish consumers," Research Discussion Papers 2/2008, Bank of Finland.
- E59 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Other
- G20 - Financial Economics - - Financial Institutions and Services - - - General
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