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

Exhibit 5.7 (a) AWARENESS OF SPENDING
� I remember what I spent on my cash but wonder where I spent my EFTPOS card but if
it’s a hundred dollar note I go oh yeah I spent that at that shoe shop.
� Yeah, because its visible and I spend it and I feel it’s less but in the card it doesn’t really
feel like that.
� I really see the cash going out of my pocket when I spend
� I check the price before buying anything if I have cash
� Because little batches of five dollars here and ten dollars there I forget about Yeah and
suddenly I look at my account and there nothing in there. Just doesn’t feel as real
� Like what did I buy with that, I can’t even think – like I spent this and later it doesn’t
add up to that but I guess with a debit card because I can go back to the internet banking
I can actually see I spent this here and this here and there is I guess a written record. I
mean I can keep receipts but I just usually keep them in my wallet
� yeah I tend to notice it afterwards I think oh I had a hundred in there and I think what
have I done with those four other twenties there is only one left
� No because it just disappears so fast electronically you never actually have the money
physically- there’s more accountability with physical money- I remember where I have
spent a note. You can see it diminishing with the actual note where as unless you are
checking on line or whatever every day you don’t see that. It’s a false sense of freedom
and elbow room to spend a bit more of your own money so that’s why it feels weird.
� I really notice how much I have spent I really try to track my purchases but never with a
card I done have a track after that
� That’s true I am more likely to spend thirty dollars on a credit card than the twenty
dollars in my wallet
� I don’t feel a when I see the statement oh yes that’s what I spent that on and that was a
good deal any maybe that wasn’t maybe I shouldn’t have spent money on that.
� I feel like I are on more of a budget so I tend to notice more smaller things cost and
what I have left whereas with a credit card I just spend it and not too worried about a
budget
� I really notice how much I have spent I really try to track my purchases but never with a
card
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Exhibit 5.7 Key Themes Identified
Exhibit 5.7 (b) MONEY MANAGEMENT
� Well if I’ve got the extra money then I would rather use the card because it doesn’t matter if I go over
because it won’t be declined and I am more likely to spend more money
� Yeah I don’t think I have difference from what I spend and how much I spend whether it is cash or
debit card, eftpos its only eftpos I carry. I’ll still search for the bargains I’ll still compare prices, I’ll
still try and get as many items as I can for my money regardless of whether it is a hundred dollar
note or a hundred dollars I am spending on my eftpos card.
� And its just a number on a screen isn’t it?
� Perhaps I have that feeling of sadness sometimes at the end of the month when I do my internet
banking
� Its like drawing out a hundred dollars in twenty dollars notes at the start of the week seems more
budget conscious
� Although I might probably notice more, maybe I might be more conscious of a budget if I had cash in
my wallet because I would think I will just try and spend the cash,
� if I have cash I would think more about saving like think for saving or I have to save something I
have only twenty left now if I have cash but if I have EFTPOS I don’t think about saving I just oh I
will pay in my next pay.
� Resentful (card use). It is out of horrible necessity that I have to use it to buy stuff.
� I feel worried that I can see it going with the debit card it is at the end of the month where as with the
cash I need to keep track of what I are actually doing with it.
� Well if I’ve got the extra money then I would rather use the card because it doesn’t matter if I go over
because it won’t be declined and I am more likely to spend more money and not total it in my car
� More likely to spend more money with card
� I also find it more uncomplicated because if your if your using say a credit card or a debit card or
smart card you run the risk of going into debit because you see something you like and you can get it
but there are repercussions later on so with cash its really straight forward and simplistic and
uncomplicated
� you said something a bit like that before it’s (cash) a known measure
� I don’t feel that when I see my statement Oh yes that’s what I spent that on and that was a good deal
and maybe that wasn’t Maybe I shouldn’t have spent my money on that