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Essay / Research Paper Abstract
This 8 page paper examines a variety of cultures and pay preferences. Various types of payment methods are considered. Hofstede's model is used. Bibliography lists 10 sources.
Page Count:
8 pages (~225 words per page)
File: RT13_SA645pay.rtf
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Unformatted sample text from the term paper:
costs, while others may prefer to use debit or credit cards. Some people accumulate a great deal of debt by using credit cards, while others simply pay the balance each
month. Others stay away from banks and credit cards and use check cashing establishments. These individuals largely use cash for all of their transactions. Does culture have anything to do
with this? Lyons (2006) reports that it is important to understand debit use patterns. Debit is an important pay preference today. Unlike credit cards, money is taken directly from a
bank account. Yet, some people shy away from its use. Perhaps it is a cultural habit of not using plastic that dissuades some people from using it. There are many
reasons why people on the Supermarket line have to hold up the works to get out their checkbooks and continue to engage in traditional, paper transactions. If the consumer would
simply use the debit card, it would save a lot of time on the check out lines. There are people who have come from countries and cultures where cash is
used a great deal, but it is important to recognize that new immigrants and old immigrants have different ideas. It pays to first examine the use of different
payment methods and what it means. For example, one study shows a significant increase in the number of consumers using electronic banking technologies (Anguelov, Hilgert, & Hogarth, 2004). This is
significant because it suggests that, across the board, more and more consumers are using online banking and paying their bills online. And while there are increases in every demographic, the
products are used more often by those who have higher assets and income as well as younger households with higher education levels (Anguelov, Hilgert, & Hogarth, 2004). Culture can enter
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