Varya Taylor - Latest

• Examining Full Collateral Coverage in Canada’s Large Value Transfer System

  Staff Working Paper 2015-29 Lana Embree, Varya Taylor

  The Large Value Transfer System (LVTS) is Canada’s main electronic interbank funds transfer system that financial institutions use daily to transmit thousands of payments worth several billions of dollars.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial institutions, Payment clearing and settlement systems JEL Code(s): E, E4, E47, G, G2, G21

• Removal of the Unwinding Provisions in the Automated Clearing Settlement System: A Risk Assessment

  Staff Discussion Paper 2014-4 Nicholas Labelle, Varya Taylor

  A default in the Automated Clearing Settlement System (ACSS) occurs when a Direct Clearer is unable to settle its final obligation.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Financial stability, Payment clearing and settlement systems JEL Code(s): C, C1, C15, G, G0, G01, G2, G3

• The Role of Convenience and Risk in Consumers' Means of Payment

  Staff Discussion Paper 2009-8 Carlos Arango, Varya Taylor

  Using data from a 2004 survey of the Canadian public, the authors study the role of convenience and risk in consumers' use of cash relative to debit and credit cards. The authors find that consumers who perceive debit cards and credit cards to be more convenient and less risky than cash use them more frequently.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Bank notes JEL Code(s): E, E4, E41, L, L2
• November 11, 2008

  Merchants' Costs of Accepting Means of Payment: Is Cash the Least Costly?

  Bank of Canada Review - Winter 2008-2009 Carlos Arango, Varya Taylor

  In a competitive sales environment, merchants are compelled to offer consumers the option of paying for goods and services using a variety of payment methods, including cash, debit card, or credit card. Each method entails different costs and benefits to merchants. To better understand the costs of accepting retail payments, the Bank of Canada surveyed over 500 Canadian merchants and found that most consider cash the least costly. This article investigated this perception by calculating the variable costs per transaction of accepting different means of payment. The findings are that costs for each payment method vary by merchant and transaction value, with debit cards the least costly payment for a broad cross-section of merchants.

  Content Type(s): Publications, Bank of Canada Review articles Topic(s): Bank notes

• Merchant Acceptance, Costs, and Perceptions of Retail Payments: A Canadian Survey

  Staff Discussion Paper 2008-12 Carlos Arango, Varya Taylor

  Using the results of a survey on accepted means of payment, the authors examine merchant preferences and perceptions of retail payment reliability, risk, and costs; the share of each type of payment method over total sales; and the costs involved in accepting payments.

  Content Type(s): Staff research, Staff discussion papers Topic(s): Bank notes JEL Code(s): E, E4, E41, L, L2
• April 14, 2006

  Trends in Retail Payments and Insights from Public Survey Results

  Bank of Canada Review - Spring 2006 Varya Taylor

  While the volume and value of bank notes have continued to increase, the use of cash as a payment method has been affected by the growing use of electronic alternatives. Taylor reports on a 2004 Bank of Canada survey of consumers' payment habits and their perceptions of cash and its alternatives, including their confidence in the security of bank notes. Analysis of the survey results shows that numerous factors affect the demand for bank notes, including income, age, education, gender, the use of debit and credit cards, and the perceived convenience of cash. Taylor also includes a report on the construction of a bank note confidence index that will serve as a benchmark for future surveys.

  Content Type(s): Publications, Bank of Canada Review articles Topic(s): Bank notes