The act of handing over hard-earned cash has long been associated with pain. And historically, research has also found that consumers tended to spend less using cash rather than a payment card.
In a study from the early 2000s where consumers were observed using either cash or a pre-paid card, it was shown that those with cash spent less money. This was corroborated in the same study by investigating consumer receipts from a grocery store.
Evidence also...