COVID-19 has temporarily changed the relative costs and benefits of different payment methods: cash has become more costly in terms of health risks, ease of use and likelihood of acceptance, whereas debit card usage has become less costly. As a result, consumers have shifted away from cash. Based on unique daily payment diary survey data collected between January 2018 and December 2021 amongst a representative panel of Dutch consumers, we study the shift in payment behaviour and payment preferences during two lockdown periods in the Netherlands in 2020 and 2021. Since the start of the first lockdown the likelihood of debit card usage at the expense of cash has increased by 12 percentage points compared to its trend level. About 60 percent of this shift on top of the autonomous trend persisted several months after the end of the first lockdown and part of it has persisted several months after the end of the second lockdown. The results indicate that the pandemic accelerated the increased usage of debit card at the POS, especially during the first pandemic year. Also, the pandemic has resulted in a shift in payment preferences towards more contactless payments. Both effects are largest for elderly people.
Download full-text PDF |
Source |
|---|---|
| http://www.ncbi.nlm.nih.gov/pmc/articles/PMC9242695 | PMC |
| http://dx.doi.org/10.1016/j.jbankfin.2022.106593 | DOI Listing |
Publication Analysis
Top Keywords
Similar Publications
Addressing cost barriers to healthy eating with Eat Well, a prescription produce subsidy, for patients with diabetes and at risk for food insecurity: Study protocol for a type 1 hybrid effectiveness-implementation pragmatic randomized controlled trial.
Contemp Clin Trials
October 2024
Duke Population Health Management Office, Duke University Health System, 3100 Tower Blvd Suite 1100, Durham, NC 27707, United States of America; Division of Endocrinology, Metabolism, and Nutrition, Department of Medicine, Duke University School of Medicine, Durham, NC 27710, United States of America; Division of Community Health, Department of Family Medicine and Community Health, Duke University School of Medicine, DUMC 2914, Durham, NC, 27710, United States of America.
Background: Patients with diabetes at risk of food insecurity face cost barriers to healthy eating and, as a result, poor health outcomes. Population health management strategies are needed to improve food security in real-world health system settings. We seek to test the effect of a prescription produce program, 'Eat Well' on cardiometabolic health and healthcare utilization.
View Article and Find Full Text PDFEffect of Cash Benefits on Health Care Utilization and Health: A Randomized Study.
JAMA
November 2024
Harvard Kennedy School, Cambridge, Massachusetts.
Importance: Poverty is associated with greater barriers to health care and worse health outcomes, but it remains unclear whether income support can improve health.
Objective: To examine the effect of cash benefits on health care utilization and health.
Design, Setting, And Participants: The City of Chelsea, Massachusetts, a low-income community near Boston, randomly assigned individuals by lottery to receive cash benefits.
Monthly unconditional income supplements starting at birth: Experiences among mothers of young children with low incomes in the U.S.
J Policy Anal Manage
March 2024
Project Director of Baby's First Years, Teachers College, Columbia University, 525 West 120th Street, RH 21, New York, NY 10027.
Recently, U.S. advocates and funders have supported direct cash transfers for individuals and families as an efficient, immediate, and non-paternalistic path to poverty alleviation.
View Article and Find Full Text PDFEnhancing fraud detection in banking by integration of graph databases with machine learning.
MethodsX
June 2024
Symbiosis Centre for Applied Artificial Intelligence, Symbiosis Institute of Technology, Symbiosis International Deemed University Maharashtra, Pune 412115, India.
The banking sector's shift from traditional physical locations to digital channels has offered customers unprecedented convenience and increased the risk of fraud for customers and institutions alike. In this study, we discuss the pressing need for robust fraud detection & prevention systems in the context of evolving technological environments. We introduce a graph-based machine learning model that is specifically designed to detect fraudulent activity in various types of banking operations, such as credit card transactions, debit card transactions, and online banking transactions.
View Article and Find Full Text PDFConsumption responses to an unconditional child allowance in the United States.
Nat Hum Behav
April 2024
Center on Poverty and Social Policy, Columbia University, New York, NY, USA.
The COVID-19 pandemic put families in the United States under financial stress. The federal government's largest response in 2021 was the American Rescue Plan Act, which temporarily expanded the Child Tax Credit (CTC) into a large, unconditional child allowance providing monthly payments to families with children. This study investigates consumption responses to the CTC expansion using anonymized mobile-location data and debit/credit card data that track visits and spending at 1.
View Article and Find Full Text PDFWant AI Summaries of new PubMed Abstracts delivered to your In-box?
Enter search terms and have AI summaries delivered each week - change queries or unsubscribe any time!