Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/53881 
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dc.contributor.authorArango, Carlosen
dc.contributor.authorHuynh, Kim P.en
dc.contributor.authorSabetti, Leonarden
dc.date.accessioned2011-10-28-
dc.date.accessioned2011-12-15T12:57:37Z-
dc.date.available2011-12-15T12:57:37Z-
dc.date.issued2011-
dc.identifier.pidoi:10.34989/swp-2011-23en
dc.identifier.urihttp://hdl.handle.net/10419/53881-
dc.description.abstractThis paper uses discrete-choice models to quantify the role of consumer socioeconomic characteristics, payment instrument attributes, and transaction features on the probability of using cash, debit card, or credit card at the point-of-sale. We use the Bank of Canada 2009 Method of Payment Survey, a two-part survey among adult Canadians containing a detailed questionnaire and a three-day shopping diary. We find that cash is still used intensively at low value transactions due to speed, merchant acceptance, and low costs. Debit and credit cards are used more frequently for higher transaction values where safety, record keeping, the ability to delay payment and credit card rewards gain prominence. We present estimates of the elasticity of using a credit card with respect to credit card rewards. Reward elasticities are a key element in understanding the impact of retail payment pricing regulation on consumer payment instrument usage and welfare.en
dc.language.isoengen
dc.publisher|aBank of Canada |cOttawaen
dc.relation.ispartofseries|aBank of Canada Working Paper |x2011-23en
dc.subject.jelC35en
dc.subject.jelC83en
dc.subject.ddc330en
dc.subject.keywordBank notesen
dc.subject.keywordEconometric and statistical methodsen
dc.subject.keywordFinancial servicesen
dc.titleHow do you pay? The role of incentives at the point-of-sale-
dc.typeWorking Paperen
dc.identifier.ppn670802697en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:bca:bocawp:11-23en

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