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An empirical analysis of bill payment choices

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Bibliographic Details
Authors and Corporations: Kosse, Anneke (Author)
Edition: Last updated: May 17, 2021
Type of Resource: E-Book
Language: English
published:
[Ottawa] Bank of Canada [2021]
Series: Bank of Canada: Staff working paper ; 2021, 23
Subjects:
Source: Verbunddaten SWB
Lizenzfreie Online-Ressourcen
Description
Summary: The aim of this paper is to examine which payment instruments Canadians use for paying bills and to assess the factors driving their bill payment behaviour. I use 2019 survey data collected among over 4,000 Canadians and estimate a set of binomial and multinomial regressions to assess the factors influencing consumers' use and perception of different bill payment options. I find that there is no single dominant payment method for all consumer groups: demographics, financial situation, new technology adoption and POS payment habits play a significant role in the usage of bill payment methods as well as in consumers' stated reasons and barriers of use. Moreover, I demonstrate that consumers' bill payment behaviour strongly varies by bill type. The conclusions are useful for policy discussions on how to encourage a migration away from paper-based payment methods and how to (re)design a retail payments system to accommodate end-user needs.
Physical Description: 1 Online-Ressource (circa 34 Seiten); Illustrationen