Cash or Card: Consumer Perceptions of Payment Modes - Scholarly ...

Research Question One: Do the cognitive and emotional elements that people associate with
a cash based payment mode differ from those associated with a debit card based payment
mode?
To address this question, a phenomenological based data collection mode was adopted and
data were obtained through five focus group sessions. The data reflect participants’ unique
perspective as well as those shared by the group. The focus group sessions followed nominal
group techniques that captured individual perceptions via workbook tasks and projective tests
and group based discussion.
Results show, that for the participants in this study, the cognitive and emotional elements
associated with cash and debit card modes do indeed differ.
Distinct difference in emotional, responses to the payment modes include:
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� Both forms of payment are considered acceptable
� A $100 note is associated with pleasure and happiness whereas 100 dollar stored in a
debit card is associated with hard work.
� A $20 note is considered honest and hardworking.
� A $20 note and a debit card with stored $100 are both deemed to be comfortable,
dependable and easy-going.
� Cash is viewed as money- a debit card- access to money. A common view of cash is
that you can see it is money- it is real.
� A marked reluctance to ‘break’ and thus spend a $100 note this is more marked when
using it to buy low value items and items that are not considered ‘special’. No such
associations with $100 stored in a debit card are reported
� An expressed enjoyment when paying by cash in the context of ‘special’ purchases
� The ‘Power’ factor varies in that $100 cash increase spending power, participants’
associate cash with wealth and necessary means to enjoy spending. No such
associations with $100 stored in debit card were noted. Cash is associated with
increased power but money in debit card is related to wasting or overspending.