US households stick with favourite payment methods
The prevalence of cash use in the US is common across the population and is not due to one subset of consumers with particular preferences, a recent research paper published by the Federal Reserve Bank of Boston finds.
The study, Payment Choice with Consumer Panel Data by Michael Cohen and Marc Rysman, uses scanner data to track payment choice for grocery purchases for a large panel of households over three years. It shows that households focus most of their expenditures on one, or at most two
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