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Trends and preferences in consumer payments


  • Susan Herbst-Murphy


For two decades, Visa Inc. has contracted with a market research firm to gather detailed information from U.S. consumers about the forms of payment they use when carrying out transactions at many types of merchants. This omnibus project, the Visa Payment Panel Study, has recorded the migration away from paper forms of payment to electronic and plastic payment methods, identified variation in preferred payment methods based on consumer demographics, and calculated a share of use for each payment type at the merchant category level. The Payment Cards Center invited Michael Marx, senior business leader, Visa Inc. Research Services, to conduct a workshop on findings from the Visa Payment Panel Study. This paper summarizes the information presented at that workshop, including indications from panel data about changes in payment behavior during the recent recession.

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  • Susan Herbst-Murphy, 2010. "Trends and preferences in consumer payments," Payment Cards Center Discussion Paper 10-02, Federal Reserve Bank of Philadelphia.
  • Handle: RePEc:fip:fedpdp:10-02

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    Cited by:

    1. Bruce J. Summers & Kirstin E. Wells, 2011. "Emergence of immediate funds transfer as a general-purpose means of payment," Economic Perspectives, Federal Reserve Bank of Chicago, issue Q III, pages 97-112.
    2. Connolly, Sean & Stavins, Joanna, 2015. "Payment instrument adoption and use in the United States, 2009–2013, by consumers' demographic characteristics," Research Data Report 15-6, Federal Reserve Bank of Boston.
    3. Stavins, Joanna, 2017. "How do consumers make their payment choices?," Research Data Report 17-1, Federal Reserve Bank of Boston.

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    Credit cards ; Debit cards ; Consumers' preferences;

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