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Please use this identifier to cite or link to this item: http://hdl.handle.net/10481/34075

Title: ATM withdrawals, debit card transactions at the point of sale and the demand for currency
Authors: Carbó Valverde, Santiago
Rodríguez Fernández, Francisco
Issue Date: 2014
Abstract: Debit cards are employed for cash withdrawals at automated teller machines (ATMs) and for purchasing transactions at point-of-sale (POS). In this paper, we explore, for the first time to our knowledge, the determinants of debit card transaction volumes at ATM and POS, the relationship between these two alternative usages of cards and its impact on the demand for currency. We employ a unique database that considers the two-sided nature of debit cards to explore these issues. The results suggest that the intensity of the use of ATMs and POS have a large economic impact one on another. We also find a net negative effect of transactions with debit cards on the demand for currency since the positive impact of ATM usage is lower in absolute terms than the negative effect of POS volumes.
Sponsorship: Financial support from the “Ayuda a la investigación en Ciencias Sociales” of the Fundación BBVA is acknowledged and appreciated. We also thank financial support from the project of the Spanish Ministry of Science and Innovation ECO2011-27954.
Publisher: Springer
Keywords: Payment instruments
Banks
ATMs
POS
Demand for currency
URI: http://hdl.handle.net/10481/34075
ISSN: 1869-4187
1869-4195
Citation: Carbó Valverde, S.; Rodríguez Fernández, F. ATM withdrawals, debit card transactions at the point of sale and the demand for currency. Series, 5(4): 399-417 (2014). [http://hdl.handle.net/10481/34075]
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