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Payment instrument choice: the case of prepaid cards

  • Sujit Chakravorti
  • Victor Lubasi

The costs and benefits to payment system participants can differ depending on which payment mechanism is used. The authors specifically explore the costs and benefits of prepaid card applications versus other payment instruments, such as cash, checks, and debit cards, for certain payment segments, including gift, payroll, and employer-initiated and government benefit programs.

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Article provided by Federal Reserve Bank of Chicago in its journal Economic Perspectives.

Volume (Year): (2006)
Issue (Month): Q II ()
Pages: 29-43

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Handle: RePEc:fip:fedhep:y:2006:i:qii:p:29-43:n:v.30no.2
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  1. Shy, Oz & Tarkka, Juha, 1998. "The Market for Electronic Cash Cards," Research Discussion Papers 21/1998, Bank of Finland.
  2. Humphrey, David B., 2004. "Replacement of cash by cards in US consumer payments," Journal of Economics and Business, Elsevier, vol. 56(3), pages 211-225.
  3. Rolnick, Arthur J. & Weber, Warren E., 1988. "Explaining the demand for free bank notes," Journal of Monetary Economics, Elsevier, vol. 21(1), pages 47-71, January.
  4. Stacey L. Schreft, 1997. "Looking forward : the role for government in regulating electronic cash," Economic Review, Federal Reserve Bank of Kansas City, issue Q IV, pages 59-84.
  5. Chakravorti, Sujit & To, Ted, 2007. "A theory of credit cards," International Journal of Industrial Organization, Elsevier, vol. 25(3), pages 583-595, June.
  6. Sujit Chakravorti & Emery Kobor, 2003. "Why invest in payment innovations?," Emerging Issues, Federal Reserve Bank of Chicago, issue Jun.
  7. Santomero, Anthony M & Seater, John J, 1996. "Alternative Monies and the Demand for Media of Exchange," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 28(4), pages 942-60, November.
  8. Sujit Chakravorti & Carrie Jankowski, 2005. "Forces shaping the payments environment: a summary of the Chicago Fed’s 2005 Payments Conference," Chicago Fed Letter, Federal Reserve Bank of Chicago, issue Oct.
  9. Whitesell, William C, 1992. "Deposit Banks and the Market for Payment Media," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 24(4), pages 483-98, November.
  10. Eugene Amromin & Carrie Jankowski & Richard Porter, 2006. "Inducing more efficient payment on the Illinois Tollway," Chicago Fed Letter, Federal Reserve Bank of Chicago, issue Apr.
  11. Sujit Chakravorti & Erin Davis, 2004. "An electronic supply chain: will payments follow?," Chicago Fed Letter, Federal Reserve Bank of Chicago, issue Sep.
  12. Victor Lubasi, 2005. "Debit card competition: signature versus pin," Chicago Fed Letter, Federal Reserve Bank of Chicago, issue Dec.
  13. Arthur J. Rolnick & Warren E. Weber, 1988. "Explaining the demand for free bank notes," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Spr, pages 21-35.
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