Template-type: ReDIF-Paper 1.0
Author-Name: Till Ebner
Author-Name-First: Till
Author-Name-Last: Ebner
Author-Name: Dr. Thomas Nellen
Author-Name-First: Thomas
Author-Name-Last: Nellen
Author-Person: pne256
Author-Name: Dr. Jörn Tenhofen
Author-Name-First: Jörn
Author-Name-Last: Tenhofen
Author-Person: pte292
Title: The rise of digital watchers
Abstract: Many consumers use payment instruments to control their budget. Previously, such behavior has been associated with checking disposable cash ("pocket watching"). Based on recent survey data, we show that "digital watchers" have emerged, i.e., noncash payers who use digital applications to control their budget. Both watcher types have distinct characteristics. Pocket watchers tend to have lower incomes than other consumers, while digital watchers ascribe low security risk to payment cards. Watching behavior influences current and future payment behaviors. Pocket watchers use cash more intensively than nonwatching cash payers. Digital watchers expect to intensify their reliance on noncash payment instruments more strongly than nonwatching noncash payers.
Length: 37 pages
Creation-Date: 2021
Contact-Email: forschung@snb.ch
File-URL: https://www.snb.ch/en/publications/research/working-papers/2021/working_paper_2021_01
File-Format: text/html
Number: 2021-01
Classification-JEL: D14, E41, O33, G20
Keywords: Payment behavior, control motive, pocket watcher, digital watcher, survey data, central bank digital currency
Handle: RePEc:snb:snbwpa:2021-01