Abstract
In this we aim to estimate the consumer demand curve for off-net (“interoperable”) payments, by randomizing the price that consumers face for off-net payments, within an FSP's digital payments apps, with users of the Philippines instant retail payment switch, InstaPay. An experimentally generated estimate of demand would be informative for a number of purposes, including for FSPs’ own pricing decisions, and for pricing regulation decisions by policymakers. The demand curve can also be inverted to generate an aggregate estimate of consumer welfare from access to off-net payments, identified with experimental variation in a real-stakes, field setting. We will also study spillovers of instant payments usage on other financial inclusion behaviors, including other payments channels, and . We aim to implement the study with a sample that can be re-weighted to be nationally-representative, so we can make statements about the welfare accrued from access to instant payments from financially included individuals in the Philippines.