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Report
The 2015 Survey of Consumer Payment Choice: technical appendix
This document serves as the technical appendix to the 2015 Survey of Consumer Payment Choice administered by the Dornsife Center for Economic and Social Research (CESR). The Survey of Consumer Payment Choice (SCPC) is an annual study designed primarily to collect data on attitudes to and use of various payment instruments by consumers over the age of 18 in the United States. The main report, which introduces the survey and discusses the principal economic results, can be found at http://www.bostonfed.org/economic/cprc/SCPC. In this data report, we detail the technical aspects of the survey ...
Report
The 2010 Survey of Consumer Payment Choice
In 2010, the number of consumer payments increased nearly 9 percent from 2009 as economic activity began to rebound from the financial crisis and recession. Cash payments by consumers, which had increased sharply in 2009, did not fall back but rather grew another 3 percent in 2010. However, the share of cash payments, the dollar amount of cash withdrawals, and cash holdings by consumers decreased moderately in 2010. Credit card payments by consumers increased 15 percent, reversing more than half the 2009 decline, and the steady trend decline in paper check payments by consumers continued. ...
Report
The 2015 Survey of Consumer Payment Choice: summary results
The 2015 Survey of Consumer Payment Choice (SCPC) was implemented using a new longitudinal panel, the Understanding America Study (UAS), and results are not yet comparable to the 2008?2014 SCPC. In 2015, U.S. consumers made 68.9 payments per month. Debit cards remained the most popular payment instrument among U.S. consumers in 2015, accounting for 32.5 percent of their monthly payments, followed by cash (27.1 percent) and credit or charge cards (21.3 percent). For nonbills, consumers used cash and debit equally?about one-third of the time for each. For bills, consumers used payment cards for ...
Report
The 2014 survey of consumer payment choice: summary results
In 2014, the average number of U.S. consumer payments per consumer per month decreased to 66.1, in a statistically insignificant decline from 67.9 in 2013. The number of payments made by paper check continued to decline, falling by 0.7 to 5.0 checks per month, while the number of electronic payments (online banking bill payments, bank account number payments, and deductions from income) increased by 0.6 to 6.9 of these payments per month. The monthly shares of debit cards (31.1 percent), cash (25.6 percent), and credit cards (23.3 percent) continued to be largest; while the share of ...
Report
U.S. consumer holdings and use of $1 Bills
Small denominations play a special role in a payments ecosystem because they facilitate exchange for small-value goods and services. This report examines the $1 bill holdings of adults in the United States using data from the Diary of Consumer Payments Choice (DCPC). Simply knowing the number of $1 bills in circulation is not useful for understanding consumers' actions, since many of these bills are held by merchants. The costs and benefits to the consumer of carrying $1 bills have been largely ignored in the policy discussion of the costs of switching from dollar notes to dollar coins. ...
Report
The 2015 and 2016 diaries of consumer payment choice: technical appendix
This document serves as the technical appendix to the 2015 and 2016 editions of the Diary of Consumer Payment Choice (DCPC) administered by the Center for Economic and Social Research. The DCPC is a study designed primarily to collect data on financial transactions over a three-day period by U.S. consumers ages 18 and older. In this data report, we detail the technical aspects of the survey design, implementation, and analysis.
Report
The 2012 diary of consumer payment choice
This paper describes the results, content, and methodology of the 2012 Diary of Consumer Payment Choice (DCPC), the first edition of a survey that measures payment behavior through the daily recording of U.S. consumers? spending by type of payment instrument. A diary makes it possible to collect detailed information on individual payments, including dollar amount, device (if any) used to make the payment (computer, mobile phone, etc.), and payee type (business, person, government). This edition of the DCPC included about 2,500 participants and was conducted in October 2012. During that month, ...
Report
The 2013 Survey of Consumer Payment Choice: technical appendix
This report serves as the technical appendix to the 2013 Survey of Consumer Payment Choice. The Survey of Consumer Payment Choice (SCPC) is an annual study, conducted since 2008 through a partnership between the Consumer Payments Research Center (CPRC) at the Federal Reserve Bank of Boston and the RAND Corporation, designed primarily to collect data on attitudes to and use of various payment instruments by consumers over the age of 18 in the United States. This data report details the technical aspects of the survey design, implementation, and analysis.
Report
Financial inclusion and consumer payment choice
This report examines similarities and differences among three groups of consumers: those without a checking or savings account (unbanked), bank account adopters who have used alternative financial services (AFS) in the past 12 months (underbanked), and bank account adopters who did not use AFS in the past 12 months (fully banked). Consumers in the three groups have different demographic characteristics, income, and payment behaviors: ?The payment behavior of the underbanked is similar to that of the fully banked. ?Unbanked consumers make fewer payments per month than the fully banked and the ...
Report
The 2011 and 2012 Surveys of Consumer Payment Choice
In 2012, the number of consumer payments did not change significantly from 2010 as the economy settled into steady expansion following the financial crisis and recession. After increasing by 28 percent from 2008 to 2010, cash payments by consumers fell back by 10 percent from 2010 to 2012, while the share of cash payments dropped for a third straight year to 26.8 percent. However, the number and dollar value of cash withdrawals and the dollar value of cash holdings by consumers increased in 2012. Credit and charge card payments by consumers, which declined in 2009, rebounded further, ...