Findings on Pediatrics Discussed by Investigators at Federal Reserve Bank of Boston (Consumer Payment Behavior By Income and Demographics): Pediatrics

2026 FEB 25 (NewsRx) -- By a News Reporter-Staff News Editor at Education Daily Report -- Researchers detail new data in Pediatrics. According to news originating from Boston, Massachusetts, by NewsRx correspondents, research stated, “Despite the introduction of an array of innovations and new payment options for consumers over the last decade, income and demographics remain significant predictors of payment behavior. Using data from a 2023 consumer payments diary, we find that income, age, and education are significant predictors of which payment instruments consumers adopt and use.”

Our news journalists obtained a quote from the research from the Federal Reserve Bank of Boston, “These associations hold not only for traditional payment instruments-cards and paper-but also for innovations such as mobile apps; buy now, pay later (BNPL); and cryptocurrency. In 2023, less educated consumers were significantly less likely than other consumers to adopt any payment instrument, especially checks and electronic payments, even when we control for income and employment. After controlling for education, we find that high-income consumers used credit cards significantly more relative to other consumers. Younger and more educated consumers were most likely to adopt mobile payment apps. Women, Black, and Latino consumers were significantly more likely to have used BNPL.”

According to the news editors, the research concluded: “Men were nearly three times as likely as women to adopt cryptocurrency.”

This research has been peer-reviewed.

For more information on this research see: Consumer Payment Behavior By Income and Demographics. International Journal of Central Banking, 2026;22(1):47-99. International Journal of Central Banking can be contacted at: Assoc International Journal Central Banking, Postfach 16 03 19, Frankfurt, 60066, Germany.

The news correspondents report that additional information may be obtained from Joanna Stavins, Federal Reserve Bank of Boston, Boston, MA 02210, United States. Additional authors for this research include Claire Greene and Julian Perry.

(Our reports deliver fact-based news of research and discoveries from around the world.)