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- Bergman, Mats, et al.
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Card and cash payments - the social perspective in Sweden
- 2009
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In: Evolving payment habits. - Helsinki : Suomen Pankk. - 9789524625364 - 9789524625371 ; , s. 21-42
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Conference paper (other academic/artistic)abstract
- The modern market economy depends on the ability to make payments simply and inexpensively. Yet surprisingly little is known about the impact of these payments. In this article, we describe both the fundamental problems and costs in the use of cards and cash in Sweden, from a social perspective. We estimate that the cost to society of the use of cards and cash amounts to 0.4% of GDP. Cash payments tend to be more expensive than card payments, and the results indicate that cash is overused. The choice that the consumer makes between card and cash is largely determined by the size of the payment and the age and education of the consumer. The consumer also appears to be influenced by cost implications. A balanced use of withdrawal fees for cash and transaction fees for cards could therefore result in more efficient use of the payment system in Sweden.
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- Bergman, Mats, 1964-, et al.
(author)
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The costs of paying : private and social costs of cash and card payments
- 2007
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Reports (other academic/artistic)abstract
- Despite the central role of payments in theoretical and policy oriented economics, there is surprisingly little known about the costs of different payment instruments. We estimate social and private costs of cash, debit and credit card payments in Sweden in 2002. The combined social cost of providing these payment services is approximately 0.4 per cent of GDP. Debit and credit cards are socially less costly than cash for payments above EURO 8 and EURO 18, respectively. Corresponding thresholds for consumers’ private costs are somewhat higher. Data indicate a too extensive use of cash relative to card payments in terms of both private and social costs.
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