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How US Consumers without Bank Accounts Make Payments

Author

Listed:
  • Claire Greene
  • Oz Shy

Abstract

Using data from the 2021 Survey and Diary of Consumer Payment Choice, this article investigates two questions: What payment instruments do consumers without bank accounts adopt? How do these consumers make payments?

Suggested Citation

  • Claire Greene & Oz Shy, 2023. "How US Consumers without Bank Accounts Make Payments," Policy Hub, Federal Reserve Bank of Atlanta, vol. 2023(1), January.
    • Handle: RePEc:fip:a00068:96727
    DOI: 10.29338/ph2023-1
    as

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    File URL: https://www.atlantafed.org/-/media/documents/research/publications/policy-hub/2023/01/11/01--how-us-consumers-without-bank-accounts-make-payments.pdf
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    File URL: https://libkey.io/10.29338/ph2023-1?utm_source=ideas
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    References listed on IDEAS

    as
    1. Greene, Claire & Cole, Allison, 2017. "Financial Inclusion and Consumer Payment Choice," Journal of Financial Transformation, Capco Institute, vol. 46, pages 219-235.
    2. Greene, Claire & Stavins, Joanna, 2021. "Income and banking access in the USA: The effect on bill payment choice," Journal of Payments Strategy & Systems, Henry Stewart Publications, vol. 15(3), pages 244-249, September.
    Full references (including those not matched with items on IDEAS)

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    1. Claire Greene & Oz Shy, 2022. "Payment Card Adoption and Payment Choice," Policy Hub, Federal Reserve Bank of Atlanta, vol. 2022(10), July.
    2. Oz Shy, 2021. "Digital Currency, Digital Payments, and the 'Last Mile' to the Unbanked," Policy Hub, Federal Reserve Bank of Atlanta, vol. 2021(9), pages 1-9, August.
    3. Shy, Oz, 2020. "Low-income consumers and payment choice," Research in Economics, Elsevier, vol. 74(4), pages 292-300.
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    More about this item

    Keywords

    Unbanked consumers; payment choice; payment card adoption; payments inclusion;
    All these keywords.

    JEL classification:

    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • J15 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Minorities, Races, Indigenous Peoples, and Immigrants; Non-labor Discrimination

    Statistics

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