@article{Innovations:1596,
      recid = {1596},
      author = {Fung, Ben and Huynh, Kim and Sabetti, Leonard},
      title = {The Impact of Retail Payment Innovations on Cash Usage},
      address = {2012},
      pages = {1 online resource (iii, 31 pages)},
      abstract = {Many predict that innovations in retail payment may render  cash obsolete. We investigate this possibility in the  context of recent payment innovations such as  contactless-credit and stored-value cards. We apply causal  inference methods on the 2009 Bank of Canada Method of  Payment survey, a representative sample of adult Canadians’  shopping behaviour for retail consumption over a three-day  period. We find that using contactless credit cards and  stored-value cards lead to a reduction in average cash  usage for transactions both in terms of value and volume.  Sensitivity analysis is undertaken and our estimates are  robust to hidden bias.},
      url = {http://www.oar-rao.bank-banque-canada.ca/record/1596},
      doi = {https://doi.org/10.34989/swp-2012-14},
}