Abstract

http://ssrn.com/abstract=2005694
 
 

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Identity Theft and Consumer Payment Choice: Does Security Really Matter?


Charles M. Kahn


University of Illinois, Urbana-Champaign

José Manuel Liñares-Zegarra


University of St. Andrews - School of Management

February 14, 2012


Abstract:     
Identity theft has become a major concern for financial institutions and consumers during the last years. How identity theft has affected consumer’s payment choice is still an open research question. Using a newly available nationally representative Survey from the U.S., we study how identity theft incidents have affected adoption and usage patterns of nine different payment instruments used for paying. We find that identity theft incidents increase the adoption of money orders, traveler’s checks, online bank bill payments (OBBP) and, in particular, prepaid cards. We also find that identity theft increases the use of cash and credit cards. These results are robust to different model specifications controlling for various socio-demographic characteristics and perceptions toward payment methods.

Number of Pages in PDF File: 63

Keywords: identity theft, payment choice, adoption, usage, consumers

JEL Classification: G20, D12, E41

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Date posted: February 16, 2012  

Suggested Citation

Kahn, Charles M. and Liñares-Zegarra, José Manuel, Identity Theft and Consumer Payment Choice: Does Security Really Matter? (February 14, 2012). Available at SSRN: http://ssrn.com/abstract=2005694 or http://dx.doi.org/10.2139/ssrn.2005694

Contact Information

Charles M. Kahn
University of Illinois, Urbana-Champaign ( email )
Department of Finance
340 Wohlers Hall
Champaign, IL 61820
United States
217-333-2813 (Phone)
HOME PAGE: http://kahnfrance.com/cmk/
Jose Manuel Linares-Zegarra (Contact Author)
University of St. Andrews - School of Management ( email )
The Gateway
North Haugh
St. Andrews, Fife, Scotland KY16 9SS
United Kingdom
HOME PAGE: http://sites.google.com/site/jmlzegarra
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