Working Paper: NBER ID: w22358
Authors: Marc Rysman; Scott Schuh
Abstract: We discuss prospects for innovation in consumer payment instruments. We discuss recent research into consumer payments and what can be learned about consumer behavior towards new payment options. We consider three new innovations in payments: mobile payments, faster payments and digital currencies. For each, we describe prospects and impediments to adoption.
Keywords: No keywords provided
JEL Codes: L1
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| introduction of new payment methods (E42) | consumer willingness to adopt them (D16) |
| adoption of mobile payments (L96) | changes in consumer behavior (D12) |
| mobile payments (E42) | increase in mobile payment usage (L96) |
| faster payments system (E42) | increased business efficiency (M21) |
| faster payments system (E42) | consumer satisfaction (D12) |
| introduction of a faster payments system (E42) | consumer transaction patterns (D19) |
| adoption of digital currencies (E42) | changes in consumer payment behavior (D19) |