In this episode we take a peek into people’s diaries with Claire Greene from the Federal Reserve bank of Atlanta, and Joanna Stavins of the Federal Reserve bank of Boston.
In their report, The 2019 Diary of consumer Payment Choice, they use data logged by consumers as part of a payments diary to understand the trends in consumer payments behavior. The initial diaries were tracked in October 2019, but given everything that has happened since then, they also discuss the results of two snapshot surveys done earlier this year.
Debit cards still remain the most popular way to pay, and despite the growth in electronic payments, cash is still holding its own.
You can find their report and supplemental data here.
Interested in becoming an IPA member and helping to shape the future of payments? Reach out today and talk to us about the benefits of joining. Go to www.ipa.org to learn more.