Consumer Spending Behaviour: A Comparison of Credit vs Debit Usage during Financial Crises

• Author(s): Rishi Raj Singh
• Paper ID: 1706932
• Page: 735-749
• Published Date: 31-05-2024
• Published In: Iconic Research And Engineering Journals
• Publisher: IRE Journals
• e-ISSN: 2456-8880
• Volume/Issue: Volume 7 Issue 11 May-2024

Abstract

The authors study the effect of financial crises on the switch in consumer expenditure behavior using credit and debit payment modes. Research into the field of consumer payment behavior is an emerging trend with increasing accessibility to the payment data and it covers card use trends, credit management, and payment preferences. However, previous research has not suggested credit and debit use in times of crisis or differentiated preference through stages of a financial downturn. The paper makes this contribution through the analysis of data from small finance institutions in the USA, therefore enabling trendlines and preferences for means of payment to be developed on a wide geographic, socio-economic, and demographic basis. This unique perspective in understanding the consumer choice of credit/debit usage further develops another angle for verifying such conclusions previously not well settled. From the evidence of these results emerge a number of points of real importance for further study, financial institutions, and scholars of credit.

Citations

IRE Journals:
Rishi Raj Singh "Consumer Spending Behaviour: A Comparison of Credit vs Debit Usage during Financial Crises" Iconic Research And Engineering Journals Volume 7 Issue 11 2024 Page 735-749

IEEE:
Rishi Raj Singh "Consumer Spending Behaviour: A Comparison of Credit vs Debit Usage during Financial Crises" Iconic Research And Engineering Journals, 7(11)