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Author:Greene, Claire 

Report
Changes in U.S. Payments Fraud from 2012 to 2016: Evidence from the Federal Reserve Payments Study

This report provides aggregate estimates of payments fraud totals and rates for general-purpose credit and debit card (including non-prepaid and prepaid debit card), ACH, and check transactions—the core non-cash payment types used for everyday payments and settlements by consumers and businesses. For cards, further breakouts of payments fraud—such as card type, payment channel, and authentication method—are provided. ACH fraud is broken out into ACH credit and ACH debit fraud.
Reports and Studies

Report
Did the Target data breach change consumer assessments of payment card security?

Previous research has found that perceptions of payment security affect consumers? use of payment instruments. We test whether the Target data breach in 2013 was associated with a change in consumers? perceptions of the security of credit cards and debit cards and with subsequent changes in consumers? use of payment cards. Using data from the Survey of Consumer Payment Choice (SCPC), we find that, controlling for possible confounding effects of demographic differences between the two groups, ratings by consumers who assessed the security of personal information of debit cards shortly after ...
Research Data Report , Paper 16-1

Discussion Paper
Consumer Behavior in a Health Crisis: What Happened with Cash?

In the United States, COVID-19 cases and currency in circulation both surged in March 2020. Did consumer choice play a role in the increase in currency in circulation? With fewer opportunities to shop and pay in person, why would consumers hold more cash? Data from the fall 2019 Survey and Diary of Consumer Payment Choice and interim rapid-response surveys in spring and late summer 2020 give some insights into consumer cash holdings and payments behavior.
Policy Hub , Paper 2021-1

Report
The 2015 Survey of Consumer Payment Choice: summary results

The 2015 Survey of Consumer Payment Choice (SCPC) was implemented using a new longitudinal panel, the Understanding America Study (UAS), and results are not yet comparable to the 2008?2014 SCPC. In 2015, U.S. consumers made 68.9 payments per month. Debit cards remained the most popular payment instrument among U.S. consumers in 2015, accounting for 32.5 percent of their monthly payments, followed by cash (27.1 percent) and credit or charge cards (21.3 percent). For nonbills, consumers used cash and debit equally?about one-third of the time for each. For bills, consumers used payment cards for ...
Research Data Report , Paper 17-3

Journal Article
The story of a sausage business

By mixing together funding sources, a fast-growing smokehouse tripled its space, creating jobs and opportunity for Vermont farmers.
Communities and Banking , Issue Winter , Pages 22-23

Report
U.S. Consumers' Use of Personal Checks: Evidence from a Diary Survey

This paper presents a snapshot of U.S. consumers’ use of paper checks in 2017 and 2018, combining data from the 2017and 2018 Diaries of Consumer Payment Choice.Other data sources have tracked the decline in the use of paper checks since 2000. This report adds to that data by delving into the characteristics of 1,600 individual transactions—in particular, dollar amount, payee, and payer—made by a representative sample of U.S. consumers using checks. Among the findings:•Consumers used checks for 7 percent of transactions overall in 2017 and 2018 and wrote about three checks a ...
Consumer Payments Research Data Reports , Paper 2020-1

Journal Article
Prepaid cards: lots of flavors, not all delicious

Some consumers use prepaid cards like cash?others, in place of a bank account.
Communities and Banking , Issue Fall , Pages 11-13

Report
Consumers' use of overdraft protection

In mid-2010, an amendment was passed to Regulation E, which implements the Electronic Fund Transfer Act, requiring financial institutions to ask consumers whether or not they want overdraft protection for automated teller machine (ATM) transactions and everyday purchases made with a debit card. This Research Data Report studies the short-term impact of this amendment by examining consumers? adoption of overdraft protection, the incidence of overdrawing at least once within a 12-month period, and the incidence of paying a fee for overdrawing, before and after the opt-in rule took effect.
Research Data Report , Paper 15-8

Report
The 2014 survey of consumer payment choice: summary results

In 2014, the average number of U.S. consumer payments per consumer per month decreased to 66.1, in a statistically insignificant decline from 67.9 in 2013. The number of payments made by paper check continued to decline, falling by 0.7 to 5.0 checks per month, while the number of electronic payments (online banking bill payments, bank account number payments, and deductions from income) increased by 0.6 to 6.9 of these payments per month. The monthly shares of debit cards (31.1 percent), cash (25.6 percent), and credit cards (23.3 percent) continued to be largest; while the share of ...
Research Data Report , Paper 16-3

Working Paper
How People Pay Each Other: Data, Theory, and Calibrations

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 preferences over the use of different payment methods for p2p payments. The random matching model is calibrated to the share of p2p payments made with cash, paper check, and electronic technologies observed from 2015 to 2019. We find about two thirds of consumers have a first p2p payment preference of cash. ...
FRB Atlanta Working Paper , Paper 2021-11

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