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Journal ArticleDOI: 10.2139/SSRN.3794790

Switching from Cash to Cashless Payments during the COVID-19 Pandemic and Beyond

02 Mar 2021-Social Science Research Network (Narodowy Bank Polski, Economic Research Department)-
Abstract: Using a survey of 5,504 respondents from 22 European countries,we examine preferences regarding cash and cashless payments at the point of sale (POS) during the COVID-19 crisis. Consumers favor cashless transactions when they believe that handling cash presents a higher risk of infection. Moreover, the habits they develop during periods of restrictions and lockdowns appear to further diminish their appetite for transacting in cash. Not only do these factors affect current choice of payment method, but also influence declared future intentions to move away from cash after the pandemic is over.

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Topics: Point of sale (56%), Cash (56%), Payment (53%)

9 results found

Open accessPosted Content
Abstract: Explotamos datos de transacciones de alta frecuencia / alta resoluciA³n de BBVA para analizar la dinAimica del gasto en EspaA±a durante la actual pandemia de COVID-19. Encontramos poco cambio en el gasto antes del confinamiento, pero inmediatamente despuA©s observamos caA­das del gasto muy elevadas y sostenidas. We exploit high-frequency/high-resolution transaction data from BBVA to analyse the dynamics of expenditure in Spain during the ongoing COVID-19 pandemic. We find little shift in expenditure prior to the national lockdown, but then immediate, very large, and sustained expenditure reductions thereafter.

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63 Citations

Open accessJournal ArticleDOI: 10.1007/S11187-021-00510-8
Abstract: We investigate the impact of COVID-19 on 42,401 UK SMEs and how government intervention affects their capability to survive the pandemic. The results show that, without governmental mitigation schemes, 59% of UK SMEs report negative earnings and that their residual life is reduced from 164 to 139 days. The analysis shows that government support scheme reduces the number of SMEs with negative earnings to 49% and allows extending the residual life for SMEs with negative earnings to 194 days. In addition, the support scheme reduces the number of jobs at risk in our sample by around 20%. However, our results suggest that weaker firms benefit more than strong ones. Besides, industries that are worst hit by COVID-19 are not those that benefit most from the government support scheme. We ascribe this result to the fact that the schemes do not discriminate between those firms that deserve support and those that do not deserve it.

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Topics: Earnings (54%)

6 Citations

Open accessPosted Content
Abstract: The role of payment cards in modern economies can hardly be underrated. In 2013, debit and credit card transactions represented roughly half of all consumer payment transactions in Western Europe, and accounted for more than 45% of all payment transactions in the United States. 2 The payment card industry has faced intense antitrust scrutiny on both sides of the Atlantic, partly in response to the merchants' recurrent complaints about high transaction fees. In the past, regulation has mainly targeted the fees imposed by payment card networks. For instance, the most commonly used regulatory instrument caps the "interchange fee," which is the payment made by the merchant's bank (called the acquirer) to the cardholder's bank (the issuer). This interchange fee in turn impacts the merchant fee, which has sparked the controversy in the first place. The last few years have witnessed a renewed interest in policies allowing merchants to differentiate price according to payment choice. Absent public regulation on the matter, payment systems (open systems such as Visa and MasterCard, but also closed systems such as Amex, PayPal, and Google Wallet) have prohibited merchants from levying surcharges on their own payment method (the so called "no surcharge rule"). Arguably, one natural alternative to traditional regulation of interchange fees is to let merchants price discriminate as a function of payment method, allowing them to pass through to consumers any excessive merchant fees. The primary object of this note is to shed light on this debate, and clarify how optimal regulation of cash discounts/card surcharges by merchants is related to traditional modes of regulation of merchant fees.

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Topics: Payment service provider (67%), Payment processor (66%), Payment (62%) ... read more

2 Citations

Open accessPosted Content
01 Jan 2019-
Abstract: Cashless or tellerless bank branches have proliferated in several countries in recent years. In a cashless bank branch, teller or counter services such as cash withdrawals, deposits and cheque-cashing are not available.

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Topics: Financial services (50%), Cash (50%)

1 Citations

Open accessJournal ArticleDOI: 10.22214/IJRASET.2021.36225
Abstract: The COVID-19 pandemic has impacted the world since the end of 2019 and has negatively impacted almost all sectors of the economy except the digital payment sector. The various digital payment systems have been very helpful in tackling and preventing the spread of the COVID 19 by minimizing cash payments and ensuring contactless payments. The topic is “A Study on the Digital Payment Adoption in Millennials Amid Covid-19”. The topic for the study is based upon the current economic condition. The main aim of the study is to examine whether factors such as perceived risk, perceived usefulness, trust, perceived ease of use and perceived vulnerability has contributed towards the adoption of digital payment among millennials during this COVID pandemic. The purpose to study the relationship between perceived risk, perceived usefulness, trust, perceived ease of use, perceived vulnerability and adoption of digital payment among millennials amid COVID 19. The descriptive research design is adopted. The survey method is used for data collection. The millennials of India are the respondents of this study. Data is tested using correlation and multiple regression. There is significant association between perceived risk, perceived usefulness, perceived ease of use, perceived vulnerability and adoption of digital payment among millennials amid COVID 19. There is no significant association between trust and adoption of digital payment among millennials amid COVID 19.

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Topics: Payment (55%)

1 Citations


92 results found

Journal ArticleDOI: 10.2307/2532419
01 Dec 1991-Biometrics
Abstract: \"A new edition of the definitive guide to logistic regression modeling for health science and other applicationsThis thoroughly expanded Third Edition provides an easily accessible introduction to the logistic regression (LR) model and highlights the power of this model by examining the relationship between a dichotomous outcome and a set of covariables. Applied Logistic Regression, Third Edition emphasizes applications in the health sciences and handpicks topics that best suit the use of modern statistical software. The book provides readers with state-of-the-art techniques for building, interpreting, and assessing the performance of LR models. New and updated features include: A chapter on the analysis of correlated outcome data. A wealth of additional material for topics ranging from Bayesian methods to assessing model fit Rich data sets from real-world studies that demonstrate each method under discussion. Detailed examples and interpretation of the presented results as well as exercises throughout Applied Logistic Regression, Third Edition is a must-have guide for professionals and researchers who need to model nominal or ordinal scaled outcome variables in public health, medicine, and the social sciences as well as a wide range of other fields and disciplines\"--

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Topics: Logistic regression (72%)

29,123 Citations

Journal ArticleDOI: 10.2307/1912934
01 May 1980-Econometrica
Abstract: This paper presents a parameter covariance matrix estimator which is consistent even when the disturbances of a linear regression model are heteroskedastic. This estimator does not depend on a formal model of the structure of the heteroskedasticity. By comparing the elements of the new estimator to those of the usual covariance estimator, one obtains a direct test for heteroskedasticity, since in the absence of heteroskedasticity, the two estimators will be approximately equal, but will generally diverge otherwise. The test has an appealing least squares interpretation.

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Topics: Newey–West estimator (71%), Breusch–Pagan test (64%), Consistent estimator (62%) ... read more

24,814 Citations

Journal ArticleDOI: 10.1198/TECH.2007.S455
01 Feb 2007-Technometrics
Abstract: Chapter 3 deals with probability distributions, discrete and continuous densities, distribution functions, bivariate distributions, means, variances, covariance, correlation, and some random process material. Chapter 4 is a detailed study of the concept of utility including the psychological aspects, risk, attributes, rules for utilities, multidimensional utility, and normal form of analysis. Chapter 5 treats games and optimization, linear optimization, and mixed strategies. Entropy is the topic of Chapter 6 with sections devoted to entropy, disorder, information, Shannon’s theorem, demon’s roulette, Maxwell– Boltzmann distribution, Schrodinger’s nutshell, maximum entropy probability distributions, blackbodies, and Bose–Einstein distribution. Chapter 7 is standard statistical fare including transformations of random variables, characteristic functions, generating functions, and the classic limit theorems such as the central limit theorem and the laws of large numbers. Chapter 8 is about exchangeability and inference with sections on Bayesian techniques and classical inference. Partial exchangeability is also treated. Chapter 9 considers such things as order statistics, extreme value, intensity, hazard functions, and Poisson processes. Chapter 10 covers basic elements of risk and reliability, while Chapter 11 is devoted to curve fitting, regression, and Monte Carlo simulation. There is an ample number of exercises at the ends of the chapters with answers or comments on many of them in an appendix in the back of the book. Other appendices are on the common discrete and continuous distributions and mathematical aspects of integration.

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16,540 Citations

Journal ArticleDOI: 10.1037/0033-295X.84.2.127
Abstract: Tested the 2-process theory of detection, search, and attention presented by the current authors (1977) in a series of experiments. The studies (a) demonstrate the qualitative difference between 2 modes of information processing: automatic detection and controlled search; (b) trace the course of the

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6,868 Citations

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