Boston Fed continues research into payments
A recent Federal Reserve Bank of Boston research paper, How Consumers Pay: Adoption and Use of Payments, reveals changes in payment patterns in the US.
Authors Scott Schuh and Joanna Stavins find cost significantly affects payment use, meaning the recent increase in the cost of debit cards being issued by some banks may lead to a reduction in US consumers' reliance on debit cards for transactions.
Data from a nationally representative survey on consumer payment behaviour is used and the research
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