Payment Methods And Practices Among College Students: A Classroom Discussion Tool
Abstract
Technological innovations have changed the way we pay for goods and services. While cash and checks are still popular, the degree to which we use paper-based payment methods is steadily declining. Most notably, in the last few years we have begun to rely heavily on electronic payment options including credit and debit cards, online bill payments, and e-money. Near field communication technology, such as cell phones, appears to be the next big step in this rapidly changing field. In this paper, we discuss the results of a survey that we developed to introduce students to these and other changes in payment technologies. The survey can be used to encourage classroom discussion when history of money, types of money, or monetary aggregates are introduced. We also analyze data collected from our students and suggest possible classroom discussion questions.
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