Merchant fees and reward programs generate an implicit monetary transfer to credit card users from non-card (or cash … average, each cash-using household pays $149 to card-using households and each card-using household receives $1,133 from cash …

finances. By looking at factors associated with using non-cash payment methods, and app-based financial services solutions, we … instrument. After the COVID-19 pandemic, it has mostly been cash and contactless cards. The use of cash is partly due to limited … perceived acceptance of non-cash payments by merchants. We also find substantial cross-country heterogeneity and highlight the …