Kevin Foster, Claire Greene, and Joanna Stavins
June 2023

In October 2022, US consumers reported making 39 payments per month on average, unchanged from 2021 when adjusted for questionnaire changes. As a share of all payments by number, most payments were by credit card (31 percent) or debit card (29 percent). By value, 43 percent of payments value was made electronically from a bank account using one of two ACH methods and 35 percent were made using a card (debit, credit, or prepaid).

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JEL Classifications: D12, D14, E42

Keywords: cash, checks, checking accounts, debit cards, credit cards, prepaid cards, electronic payments, payment preferences, unbanked, Survey of Consumer Payment Choice, Diary of Consumer Payment Choice link