Why Don't Consumers Use Electronic Banking Products? Towards a Theory of Obstacles, Incentives, and Opportunities
- Topics:
- Commercial Banking
- Tags:
- Banking,
- Consumer Electronics,
- Electronic Banking,
- Federal Reserve Bank Of Chicago,
- Financial Services,
- Incentive,
- Personal Technology,
- Theory
- Source:
- Federal Reserve Bank of Chicago
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Overview: This paper proposes a framework for describing why consumers use electronic banking products such as electronic bill payment, credit cards, debit cards, stored value, and e-cash. The paper surveys the literature; reports on the results of several studies, and develops a framework for evaluating consumer electronic banking usage. The framework includes three primary factors that explain consumer electronic banking usage: household wealth, personal preferences (e.g., convenience, budgeting, control, incentives, involvement, security), and transaction-specific factors (e.g., dollar size, variability of dollar amount, offline versus online location, etc.).
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Format: PDF | Size: 266KB | Date: Sep 2000 | Pages: 44
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