Has COVID Changed Consumer Payment Behavior? Has COVID Changed Consumer Payment Behavior?

By Claire Greene, Ellen Merry, and Joanna Stavins

COVID-19–related disruptions in economic activity affected not only how much people spent but also how they made payments. This paper examines in detail changes in consumer payment behavior by payment instrument and by payment channel. Using data from the Survey of Consumer Payment Choice, it compares consumers’ payment behavior before the start of the pandemic in March 2020 with their behavior several months after its onset.

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