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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

    as
    1. Carlos Arango & Dylan Hogg & Alyssa Lee, 2012. "Why Is Cash (Still) So Entrenched? Insights from the Bank of Canada’s 2009 Methods-of-Payment Survey," Discussion Papers 12-2, Bank of Canada.
    2. 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.
    3. 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.
    4. Ben Fung & Kim Huynh & Leonard Sabetti, 2012. "The Impact of Retail Payment Innovations on Cash Usage," Staff Working Papers 12-14, Bank of Canada.
    5. 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.
    6. Schmidt, Tobias, 2011. "Fatigue in payment diaries - empirical evidence from Germany," Discussion Paper Series 1: Economic Studies 2011,11, Deutsche Bundesbank.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
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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. Janet Hua Jiang & Enchuan Shao, 2014. "Understanding the Cash Demand Puzzle," Staff Working Papers 14-22, Bank of Canada.
    3. Angelika Welte, 2016. "Wait a Minute: The Efficacy of Discounting versus Non-Pecuniary Payment Steering," Staff Working Papers 16-8, Bank of Canada.
    4. Christopher Henry & Kim Huynh & Rallye Shen, 2015. "2013 Methods-of-Payment Survey Results," Discussion Papers 15-4, Bank of Canada.
    5. 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.
    6. repec:wly:jmoncb:v:49:y:2017:i:1:p:115-169 is not listed on IDEAS
    7. 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.
    8. Manjong Lee & Sung Guan Yun, 2014. "Composition of Portfolio and Cost of Inflation," Discussion Paper Series 1403, Institute of Economic Research, Korea University.
    9. Ben Fung & Miguel Molico & Gerald Stuber, 2014. "Electronic Money and Payments: Recent Developments and Issues," Discussion Papers 14-2, Bank of Canada.
    10. 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.
    11. Lucy Qian Liu & Liang Wang & Randall Wright, 2015. "Costly Credit and Sticky Prices," Working Papers 201505, University of Hawaii at Manoa, Department of Economics.
    12. Geoffrey R. Dunbar, 2014. "Demographics and the Demand for Currency," Staff Working Papers 14-59, Bank of Canada.
    13. 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.
    14. Randall Wright, 2014. "Marriage, Markets and Money: A Coasian Theory of Household Formation," 2014 Meeting Papers 237, Society for Economic Dynamics.
    15. Christopher S. Henry & Kim P. Huynh & Gradon Nicholls, 2017. "Bitcoin Awareness and Usage in Canada," Staff Working Papers 17-56, Bank of Canada.
    16. 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.
    17. Carlos Arango & Dylan Hogg & Alyssa Lee, 2012. "Why Is Cash (Still) So Entrenched? Insights from the Bank of Canada’s 2009 Methods-of-Payment Survey," Discussion Papers 12-2, Bank of Canada.
    18. repec:bof:bofrdp:urn:nbn:fi:bof-201511251450 is not listed on IDEAS

    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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