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2.2. Usage of Credit Cards versus Debit Cards Undoubtedly, if credit cards are compared to debit cards, then studies have shown that there are some perceived barriers that create hindrances in the adoption of credit cards far and wide. Rysman (2009) used the data from Survey of Consumer Finance, conducted by Federal Reserve Bank and applied Regression analysis technique to control all the related explanatory variables. Results confirmed that age and income are strong predictors in payment choice. However, Reward programs do not have a major influence on the overall usage of debit and credit cards. Additionally, payment size has U-shaped relationship with credit and debit card; credit cards are mainly used in low dollar amount and debit in high dollar amount transactions. Several studies have also kept their focus on the consumer choice of using debit cards as compared to other payment methods. A study found that credit card revolvers are more probably to use debit card and less probably to use credit cards, as compared with the customer who repay their balance each month. These both groups are different in their perception of payments, like revolvers have the perception that debit cards are not for the ease of use and acceptability but for the budgeting purpose and for control over money (Sprenger & Stavins, 2008). In addition, Zinman (2004) collected the data from approximate 4,000 US Households Survey of Consumer Finances (SCF) 2001, to figure out the consumer choice among Debit and Credit card at the Point-of-Sale. Results indicated that debit-card users rationally choose to use debit rather than credit for minimizing transaction costs and for not facing a binding credit limit. King (2005) analyzed the reasons that why consumer... ...(2003) surveyed internet users in 2001 to analyze the choice of payment instrument at point of sale (POS) and for bill payments and found that consumers who easily adopt new technology are more prone to use electronic payment channels. Results also depicted that factors like transaction value, bill’s frequency and physical characteristics of POS (cashier presence and self-service) determine the choice of payment mode. On the other hand, Nnaemeka, Ernest and Onuoha (2011) examined the level of plastic money usage and found that despite the popularity of plastic money in payment methods, cash usage is still leading over the e-purse (electronic purse) usage in Nigeria. The reasons for the result found in study are, risk to security, privacy, customer inertia (psychology effect), illiteracy and lack of operational facilities (less number of â€Å"Point of Sales† terminals).