Template-Type: ReDIF-Paper 1.0
Author-Name: Syngjoo Choi
Author-X-Name-First: Syngjoo
Author-X-Name-Last: Choi
Author-Name: Bongseop Kim
Author-X-Name-First: Bongseop
Author-X-Name-Last: Kim
Author-Name: Young-Sik Kim
Author-X-Name-First: Young-Sik
Author-X-Name-Last: Kim
Author-Name: Ohik Kwon
Author-X-Name-First: Ohik
Author-X-Name-Last: Kwon
Author-Name: Soeun Park
Author-X-Name-First: Soeun
Author-X-Name-Last: Park
Title: Predicting the payment preference for CBDC: a discrete choice experiment
Abstract: To overcome the lack of data in predicting the payment preference for central bank digital currency (CBDC), we conducted a discrete choice experiment that varied the attributes of payment methods among over 3,500 participants in Korea. We identified key attributes, such as the discount rate and the issuance form, that shape the demand for payment methods. The predicted usage shares of existing payment methods closely align with their actual usage patterns in Korea, which lends credible support for the external validity of our experimental design. Building on this validation, we further predict that CBDC, when introduced, will be preferred over cash and mobile fast payment but less preferred than credit and debit cards, with its adoption rate as the most preferred payment method ranging 19−27% of respondents.
Creation-Date: 2025-10
File-URL: https://www.bis.org/publ/work1296.pdf
File-Format: Application/pdf
File-Function: Full PDF document
File-URL: https://www.bis.org/publ/work1296.htm
File-Format: text/html
Number: 1296
Keywords: payment preference, retail CBDC, discrete choice experiment
Classification-JEL: E40, E50, C90
Handle: RePEc:bis:biswps:1296