COVID-19 pandemic increases the divide between cash and cashless payment users in Europe

Radosław Kotkowski · Michał Polasik

68 citations0/0 files storedEconomics Letters

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

COVID-19 Pandemic Impacts FinTech, Crowdfunding, Digital Finance Digital Transformation in Financial Services

Abstract

This paper investigates how the COVID-19 pandemic has changed an important aspect of everyday life, viz. how people make payments. The empirical study is based on a survey of over 5000 respondents from 22 European countries. It shows that consumers who had been making cashless payments prior to the outbreak of the pandemic have been even more likely to do so since it broke out. On the other hand, the consumers who had mostly been paying in cash have often continued to do so. The divide between those who pay in cash and those who do not, therefore, seems to have widened during the pandemic. It may suggest financial inclusion issues. Additionally, we found that the probability of more frequent cashless payments as a result of the pandemic differs considerably between countries and therefore indicate the role of country-specific factors.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 68 citations exist upstream.

References

2005Benefits from a changing payment technology in European banking 2016Explaining adoption and use of payment instruments by US consumers 2014Consumer Cash Usage: A Cross-Country Comparison with Payment Diary Survey Data 2020Consumers' Mobility, Expenditure and Online-Offline Substitution Response to COVID-19: Evidence from French Transaction Data 2014Consumer Cash Usage: A Cross-Country Comparison with Payment Diary Survey Data 2017Cash remains top-of-wallet! International evidence from payment diaries 2019Retail payments and the real economy 2019Cash or Card? Unravelling the Role of Socio-Psychological Factors

Cited by

2024Cashless payment: behavior changes and gender dynamics during the COVID-19 pandemic 2024A systematic conceptual review of financial access 2021Drivers of the Cash Paradox 2023Effect of financial access on cashless economy: The case of Ukraine 2024SWITCHING TO CASHLESS? EXPLORING COSTS OF SWITCHING INTENTION IN MOBILE PAYMENT SERVICES

Imported from OpenAlex (CC0) — nothing here is generated.