Contactless cards change young people’s payment habits - OeNB paper

Person paying with a credit card

Contactless payment cards caused a significant change in the payment habits of younger, urban-dwelling Swiss consumers, but much less on other groups, a study published by the National Bank of Austria finds.

In Financial innovation, payment choice and cash demand, Martin Brown et al look at evidence from the staggered introduction of contactless debit cards in Switzerland. They use anonymized administrative data for over 21,000 randomly selected clients from one Swiss bank from 2015 to 2018.

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