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The rise of digital watchers vs pocket watchers

Summary:
Till Ebner, Thomas Nellen and Jörn Tenhofen of SNB in this paper have an interesting take on pocket watchers vs digital watchers: 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

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Till Ebner, Thomas Nellen and Jörn Tenhofen of SNB in this paper have an interesting take on pocket watchers vs digital watchers:

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.

Amol Agrawal
I am currently pursuing my PhD in economics. I have work-ex of nearly 10 years with most of those years spent figuring economic research in Mumbai’s financial sector.

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