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

� I prefer using cash. It does not hurt breaking $20 note compared to $100 note. I often
carry around $20 in my wallet
� I won’t think much to spend cash $20 to buy unnecessary things
� When I think of $20 cash I see petrol money, nappies and wipes, baby food, common,
everyday, useful, recyclable
� I generally carry $20 cash in my wallet, in case I need it. Such as my bus pass
declined, then I can still use the service using cash. This amount of money is common,
reliable, and comfortable
Projective Task One (b)
This test required participants to hold the $100 note provided and write down their thoughts.
Once this was completed they were then asked to hold a specifically designed debit card
(having been told that it had a $100 available to spend) and to write down their thoughts.
Exhibit 5.3: Projective Test One (b) Word associations $100 note/
$100 in Debit Card
$ 100 Note Count $100 in Debit Card Count
Positive Thought Positive Thoughts
Enjoy spending
2 Excited
2
Excited to have it
2 Secure
2
Happy mood
4 Relaxed
2
Secure/Feel rich
1 Happy, joy, pleasure, fun
1
Negative Thoughts Negative thoughts
Worry of loss
1 Waste money
2
Breaking cash Hurts
1 Hate to check account balance
5
Fear of loss [of card? (versus
money)] and worrying
1
Shopping Shopping
Necessities (food, clothes,
2 Necessity (food, grocery, items on 1
nappies, wipes, takeaways etc.)
sale, petrol, baby food)
Special Appliances
2 Special (impulse purchase, online) 1
Characteristics
$100 is pink, old fashioned,
reliable, tangible, user-friendly
Characteristics
1 Own money
Low fees
Ease
Status
Opportunity
Access, freedom, lifestyle,
Money Management Money management
Control
2 Trackless spending
Savings
Power to spend
1 Overspend
Ability to spend (on anything) 1
Small value 1
An initial word/phrase count identifies similar positive associations for both payment modes
suggesting that what the token represents overrides the physical characteristic of the token.
61
4
2
1
1
3
1
2
1