Using a representative sample of the U.S. adult population, we analyze which payment methods consumers use to pay other consumers (p2p) and how these choices depend on transaction and demographic characteristics. We additionally construct a random matching model of consumers with diverse...

By "hostility to cash" we refer to the recent trend of incentivizing individuals towards a (privately managed) digital payment system driven by banking and financial sectors and supported by Governments. COVID-19 has on the one hand boosted this movement, with false messages about banknotes...

The New Monetary Economics predicts that a low-transaction-cost world will be characterised by monetary separation. Current innovations in the payment system seem to bring us closer to such a moneyless world. However, market microstructure theory suggests that transaction costs will not fall to...

Consumers appear to still be sceptical about mobile payment systems. As a result, the theoretical framework proposed as well as evaluated in this study, concentrates on elements that influence customer behaviour towards the digital payment system, fintech and CBDC are accepted. The empirical...

In this paper, we analyze theoretically the coexistence of two means of payment, such as cash and digital or electronic payments, introducing some distortions in the payments markets to understand the widespread use of cash, specially in emerging countries. Lagos and Wright (2005) theoretical...

The Covid-19 pandemic has been a shock to retail payment behaviour. How have the changes differed across countries? What do they imply for the future of cash and digital payments? We assemble a new "Future of Payments" database on retail payment behaviour for up to 95 countries over September...

This paper examines the functioning of virtual currencies as payment systems through crypto-currency exchanges and the likely impact their integration with traditional payment systems may have on the interdependent global payment systems. Being a potential global transformational phenomenon,...

An anonymous credential mechanism is a set of protocols that allows users to obtain credentials from an organization and demonstrate ownership of these credentials without compromising users' privacy. In this work, we construct the first secret-free and quantum-safe credential mechanism. The...

Payments are a key focus of central banks, as - together with the safe, efficient operation of the payments market - wide access to cash is fundamentally important for a healthy economy. In this study, three main research areas were investigated: 1. socioeconomic characteristics that can be...

The use of paper instruments—cash and checks—has been declining in the United States, and consumers have been gradually replacing paper with cards and electronic payments. Stavins (2021) examines the evolution of payments from paper to cards and electronic payments, while Shy (2020) shows...