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The Bank of Canada’s 2009 Methods-of-Payment Survey: Methodology and Key Results

Author

Listed:
  • Carlos Arango
  • Angelika Welte

Abstract

The authors present the methodology and main findings of the Bank of Canada’s 2009 Methods-of-Payment survey, a detailed investigation of consumer payment behaviour in Canada. The survey targeted the 18- to 75-year-old Canadian resident population. During November 2009, participants answered a questionnaire about their demographics, personal finance, and payment instrument habits and perceptions. Of the 6,868 questionnaire respondents, about half also completed a 3-day shopping diary, recording close to 16,000 shopping transactions. The survey gives a detailed account of Canadians’ cash management habits and payment instrument choices and provides important clues into the reasons why Canadians pay the way they do.

Suggested Citation

  • Carlos Arango & Angelika Welte, 2012. "The Bank of Canada’s 2009 Methods-of-Payment Survey: Methodology and Key Results," Discussion Papers 12-6, Bank of Canada.
  • Handle: RePEc:bca:bocadp:12-6
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    File URL: http://www.bankofcanada.ca/wp-content/uploads/2012/09/dp2012-06.pdf
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    References listed on IDEAS

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    1. Ramdane Djoudad, 2011. "A framework to assess vulnerabilities arising from household indebtedness using microdata," IFC Bulletins chapters,in: Bank for International Settlements (ed.), Proceedings of the IFC Conference on "Initiatives to address data gaps revealed by the financial crisis", Basel, 25-26 August 2010, volume 34, pages 151-168 Bank for International Settlements.
    2. Wilko Bolt & Elizabeth Foote & Heiko Schmiedel, 2011. "Consumer credit and payment cards," DNB Working Papers 332, Netherlands Central Bank, Research Department.
    3. Arango, Carlos & Huynh, Kim P. & Sabetti, Leonard, 2011. "How do you pay? The role of incentives at the point-of-sale," Working Paper Series 1386, European Central Bank.
    4. Carlos Arango & Varya Taylor, 2008. "Merchants' Costs of Accepting Means of Payment: Is Cash the Least Costly?," Bank of Canada Review, Bank of Canada, vol. 2008(Winter), pages 17-25.
    5. Ben Fung & Kim Huynh & Leonard Sabetti, 2012. "The Impact of Retail Payment Innovations on Cash Usage," Staff Working Papers 12-14, Bank of Canada.
    6. Peter Mooslechner & Helmut Stix & Karin Wagner, 2006. "How Are Payments Made in Austria?," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue 2, pages 111-134.
    7. Schmidt, Tobias, 2011. "Fatigue in payment diaries - empirical evidence from Germany," Discussion Paper Series 1: Economic Studies 2011,11, Deutsche Bundesbank, Research Centre.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Carlos Arango & Yassine Bouhdaoui & David Bounie & Martina Eschelbach & Lola Hernández, 2013. "Cash Management and Payment Choices: A Simulation Model with International Comparisons," Staff Working Papers 13-53, Bank of Canada.
    2. Peter Mooslechner & Helmut Stix & Karin Wagner, 2012. "The Use of Payment Instruments in Austria - A Study Based on Survey Data from 1996 to 2011," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue 4, pages 53-77.
    3. Janet Hua Jiang & Enchuan Shao, 2014. "Understanding the Cash Demand Puzzle," Staff Working Papers 14-22, Bank of Canada.
    4. Naoki Wakamori & Angelika Welte, 2017. "Why Do Shoppers Use Cash? Evidence from Shopping Diary Data," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 49(1), pages 115-169, February.
    5. Ben Fung & Miguel Molico & Gerald Stuber, 2014. "Electronic Money and Payments: Recent Developments and Issues," Discussion Papers 14-2, Bank of Canada.
    6. Arlan Brucal & Michael Roberts, 2015. "Can Energy Efficiency Standards Reduce Prices and Improve Quality? Evidence from the US Clothes Washer Market," Working Papers 2015-5, University of Hawaii Economic Research Organization, University of Hawaii at Manoa.
    7. Angelika Welte, 2016. "Wait a Minute: The Efficacy of Discounting versus Non-Pecuniary Payment Steering," Staff Working Papers 16-8, Bank of Canada.
    8. Christopher Henry & Kim Huynh & Rallye Shen, 2015. "2013 Methods-of-Payment Survey Results," Discussion Papers 15-4, Bank of Canada.
    9. Randall Wright, 2014. "Marriage, Markets and Money: A Coasian Theory of Household Formation," 2014 Meeting Papers 237, Society for Economic Dynamics.
    10. Boragan Aruoba & Morris Davis & Randall Wright, 2016. "Homework in Monetary Economics: Inflation, Home Production, and the Production of Homes," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 21, pages 105-124, July.
    11. Geoffrey R. Dunbar, 2014. "Demographics and the Demand for Currency," Staff Working Papers 14-59, Bank of Canada.
    12. Arango, Carlos & Huynh, Kim P. & Sabetti, Leonard, 2011. "How do you pay? The role of incentives at the point-of-sale," Working Paper Series 1386, European Central Bank.
    13. Christopher S. Henry & Kim P. Huynh & Gradon Nicholls, 2017. "Bitcoin Awareness and Usage in Canada," Staff Working Papers 17-56, Bank of Canada.
    14. Anneke Kosse & Heng Chen & Marie-Hélène Felt & Valéry Dongmo Jiongo & Kerry Nield & Angelika Welte, 2017. "The Costs of Point-of-Sale Payments in Canada," Discussion Papers 17-4, Bank of Canada.
    15. Ramdane Djoudad, 2011. "A framework to assess vulnerabilities arising from household indebtedness using microdata," IFC Bulletins chapters,in: Bank for International Settlements (ed.), Proceedings of the IFC Conference on "Initiatives to address data gaps revealed by the financial crisis", Basel, 25-26 August 2010, volume 34, pages 151-168 Bank for International Settlements.
    16. repec:bof:bofrdp:urn:nbn:fi:bof-201511251450 is not listed on IDEAS
    17. Manjong Lee & Sung Guan Yun, 2014. "Composition of Portfolio and Cost of Inflation," Discussion Paper Series 1403, Institute of Economic Research, Korea University.

    More about this item

    Keywords

    Bank notes; Financial services; Payment; clearing; and settlement systems;

    JEL classification:

    • E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates

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