| Popis: |
We know that payment method affects pain of paying and willingness to pay. It has been well documented that people experience higher levels of pain of paying when paying with cash vs. a digital form of payment like a credit or debit card. It is thought that this is because credit and debit cards separate the moment of consumption from the moment of payment – we enjoy the purchase, and then, sometime later, we pay off the bill. But we also know that people tend to enjoy hedonic purchases more if they have been paid for in advance. This research seeks to see if, for younger and more digitally engaged populations, pain of paying by payment method has effectively reversed, with cash seen as a type of token paid for from a digital wallet. We hypothesize that cash payments have become vastly less painful for these populations than digital payments, because all cash purchases are in essence prepaid – the pain of paying is felt at the moment of withdrawal from the digital, ‘real’ bank account, not at the moment of purchase. |
