Nudging customers to use more cards and less cash
The Applied Behavioural Economics team assisted an international merchant bank in building a rigorous, research-supported, behavioural change framework for increasing bank card use as a payment instrument among South African consumers.
The project team surveyed a representative sample of consumers using a metaphor elicitation technique (a surveying method that’s grounded in the principles of cognitive neuroscience).
This method was instrumental in uncovering the psychosocial barriers to bank card use that the targeted segments are confronted with in instances where POS devices are an available option.
This work was done to support the client’s financial inclusion-related objectives.