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The 2013 Survey of Consumer Payment Choice: summary results

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  • Scott Schuh
  • Joanna Stavins

Abstract

This report presents key findings from the 2013 Survey of Consumer Payment Choice. In 2013, the average number of consumer payments per month did not change significantly from the average number in 2012. The number of check payments continued to decline, and although the number of noncheck payments increased to offset the decline in checks, the number of transactions conducted with each noncheck payment instrument type did not change significantly in 2013 for any single instrument type. Thus, the shares of payments made with each of the major instrument types did not change significantly. Debit cards and cash continued to account for the two largest shares of consumer payments in 2013 (31.1 and 26.3 percent, respectively), and the credit card share reached 22.5 percent. Adoption of mobile banking and the number of mobile payments increased significantly over 2012, with almost half of consumers having access to mobile banking in 2013, and over a third reporting that they had used mobile payments during the year.

Suggested Citation

  • Scott Schuh & Joanna Stavins, 2015. "The 2013 Survey of Consumer Payment Choice: summary results," Research Data Report 15-4, Federal Reserve Bank of Boston.
    • Handle: RePEc:fip:fedbdr:15-4
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    File URL: http://www.bostonfed.org/economic/rdr/2015/rdr1504.pdf
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    Cited by:

    1. Sofia Cardoso & Luis F. Martinez, 2019. "Online payments strategy: how third-party internet seals of approval and payment provider reputation influence the Millennials’ online transactions," Electronic Commerce Research, Springer, vol. 19(1), pages 189-209, March.
    2. Gros, Daniel, 2017. "Implications of the Expanding Use of Cash for Monetary Policy," CEPS Papers 12661, Centre for European Policy Studies.

    More about this item

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis

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