The impact of microeconomic factors in the selection and use of payment instruments, cash or non-cash, by individuals in Albania, (empirical analysis).

Dorina Olldashi.


Given that in the basis of the payment system, is the way how the individual decides to perform a payment, cash or non-cash, it is thought that it is very important to study the impact of social-demographic factors of the individuals in the selection of payment instruments. But,“this issue is complex because consumers come from a very heterogeneous group of financial situations, cultural values and individual beliefs, and these interact with the choice of payment in many ways” (Rysman.2009), not to mention the fact that there are various payment instruments. From different literature reviews, it is noticed that the decisions of the individuals to choose a certain way of payment are affected by many different factors, such as, age, gender, education, income and many other factors. In this case, in this study such factors are considered: age, gender, marital status, level of education, job, having a bank account, income, possession of a credit card, the use of electronic shopping and possession of a business or being responsible for one. The analysis is based in a survey of 380 participants in the city of Elbasan mainly, but also in Tirana, Durres and other cities, using a multiple linear regression model as the ordinary least squares method (OLS). The result of this study was that: age, possession of a bank account, monthly average income, electronic shopping, possession of a business/responsibility for one, are the factors that had a significant impact on the selection and use of payment instruments by individuals.


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