The 2013 Survey of Consumer Payment Choice: Summary Results

128 Pages Posted: 18 Oct 2015

See all articles by Scott D. Schuh

Scott D. Schuh

Federal Reserve Bank of Boston - Research Department

Joanna Stavins

Federal Reserve Bank of Boston

Date Written: July 27, 2015

Abstract

In 2013, the average number of consumer payments per month did not change significantly from the average number in 2012. The number of check payments continued to decline, and although the number of noncheck payments increased to offset the decline in checks, the number of transactions conducted with each noncheck payment instrument type did not change significantly in 2013 for any single instrument type. Thus, the shares of payments made with each of the major instrument types did not change significantly. Debit cards and cash continued to account for the two largest shares of consumer payments in 2013 (31.1 and 26.3 percent, respectively), and the credit card share reached 22.5 percent. Adoption of mobile banking and the number of mobile payments increased significantly over 2012, with almost half of consumers having access to mobile banking in 2013, and over a third reporting that they had used mobile payments during the year.

JEL Classification: D12, D14, E42

Suggested Citation

Schuh, Scott and Stavins, Joanna, The 2013 Survey of Consumer Payment Choice: Summary Results (July 27, 2015). Federal Reserve Bank of Boston Research Data Reports No. 15-4. Available at SSRN: https://ssrn.com/abstract=2675334 or http://dx.doi.org/10.2139/ssrn.2675334

Scott Schuh (Contact Author)

Federal Reserve Bank of Boston - Research Department ( email )

600 Atlantic Ave.
Boston, MA 02210
United States
617-973-3941 (Phone)
617-619-7541 (Fax)

Joanna Stavins

Federal Reserve Bank of Boston ( email )

600 Atlantic Avenue
Boston, MA 02210
United States
617-973-4217 (Phone)
617-973-4218 (Fax)

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